Exemption under section 35AC: specified corporate projects qualify for tax relief for rural school and drinking-water schemes. Exemption under section 35AC designates Jindal Aluminium Ltd.'s projects as eligible: construction of rooms/buildings for village schools in 21 villages (estimated cost fifty lakhs) and borewells/tubewells for drinking water in 28 villages (estimated cost twenty-four lakhs). The notification names the company, specifies the projects and estimated costs, enumerates beneficiary villages in an annexure, and limits the exemptions to the assessment years expressly stated, with later amendments adjusting the assessment-year applicability.
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Provisions expressly mentioned in the judgment/order text.
Exemption under section 35AC: specified corporate projects qualify for tax relief for rural school and drinking-water schemes.
Exemption under section 35AC designates Jindal Aluminium Ltd.'s projects as eligible: construction of rooms/buildings for village schools in 21 villages (estimated cost fifty lakhs) and borewells/tubewells for drinking water in 28 villages (estimated cost twenty-four lakhs). The notification names the company, specifies the projects and estimated costs, enumerates beneficiary villages in an annexure, and limits the exemptions to the assessment years expressly stated, with later amendments adjusting the assessment-year applicability.
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