Exemption under section 35AC: approval of listed institutions' projects permits specified deduction for eligible project costs. Exemption under section 35AC approves specified institutions and designates eligible projects or schemes, providing estimated project costs and specifying the maximum amount of such cost allowable as a deduction. The notification lists project descriptions (construction, equipment, furnishing, running expenses), records estimated costs and deductible ceilings for each institution, and limits the notification's force to specified assessment years while noting subsequent substitutions and amendments to certain entries.
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: approval of listed institutions' projects permits specified deduction for eligible project costs.
Exemption under section 35AC approves specified institutions and designates eligible projects or schemes, providing estimated project costs and specifying the maximum amount of such cost allowable as a deduction. The notification lists project descriptions (construction, equipment, furnishing, running expenses), records estimated costs and deductible ceilings for each institution, and limits the notification's force to specified assessment years while noting subsequent substitutions and amendments to certain entries.
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