Tax exemption under Section 35AC: approved institutions' project extensions and cost enhancements; CSR funds excluded. Notification confirms extension of approval periods or enhancement of sanctioned project costs for named approved institutions and projects, specifying prior notifications, original sanctioned amounts and validity, and the Committee's recommendation to either extend approval for the financial year till 2016-17 or increase approved project cost for that year. It limits the notification's temporal operation to the stated financial year for each project and excludes funds received under Schedule VII of the Companies Act and the Companies (CSR) Rules 2014 from the tax exemption.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under Section 35AC: approved institutions' project extensions and cost enhancements; CSR funds excluded.
Notification confirms extension of approval periods or enhancement of sanctioned project costs for named approved institutions and projects, specifying prior notifications, original sanctioned amounts and validity, and the Committee's recommendation to either extend approval for the financial year till 2016-17 or increase approved project cost for that year. It limits the notification's temporal operation to the stated financial year for each project and excludes funds received under Schedule VII of the Companies Act and the Companies (CSR) Rules 2014 from the tax exemption.
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