Exemption under section 35AC approves institutions and specifies eligible projects and deductible costs for limited assessment years Approval is granted for specified institutions and their listed projects to qualify for the Income Tax exemption under section 35AC, with each entry identifying the institution, the eligible project, an estimated project cost and the maximum amount of that cost allowable as a deduction. The notification specifies different temporal scopes for the approvals, including a one year period for one project and a multi year period for the remaining projects, and records later substitutions amending certain cost figures.
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 approves institutions and specifies eligible projects and deductible costs for limited assessment years
Approval is granted for specified institutions and their listed projects to qualify for the Income Tax exemption under section 35AC, with each entry identifying the institution, the eligible project, an estimated project cost and the maximum amount of that cost allowable as a deduction. The notification specifies different temporal scopes for the approvals, including a one year period for one project and a multi year period for the remaining projects, and records later substitutions amending certain cost figures.
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