Exemption under section 35AC: specified corporate projects approved for tax relief subject to notified costs and time limits. Specification under section 35AC designates corporate projects as eligible for tax exemption by naming the sponsoring companies, describing project activities and locations, and fixing maximum approved costs for each project. The notification also prescribes that the approval for the first project applies for one assessment year and the second project for two assessment years, and lists the specific villages for the school construction project in an annexure.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption under section 35AC: specified corporate projects approved for tax relief subject to notified costs and time limits.
Specification under section 35AC designates corporate projects as eligible for tax exemption by naming the sponsoring companies, describing project activities and locations, and fixing maximum approved costs for each project. The notification also prescribes that the approval for the first project applies for one assessment year and the second project for two assessment years, and lists the specific villages for the school construction project in an annexure.
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