Tax exemption under section 35AC: specified institutions' approved projects qualify for deduction for limited assessment years. The Central Government approves a list of charitable institutions and specifies for each the eligible project or scheme, the estimated project cost, and the maximum amount of that cost allowable as a deduction under the Income-tax Act for donations to those approved projects. The notification confines those approvals to a defined limited period of assessment years and records later amendments to particular entries, including adjustments to estimated costs and deductible maxima.
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.
Tax exemption under section 35AC: specified institutions' approved projects qualify for deduction for limited assessment years.
The Central Government approves a list of charitable institutions and specifies for each the eligible project or scheme, the estimated project cost, and the maximum amount of that cost allowable as a deduction under the Income-tax Act for donations to those approved projects. The notification confines those approvals to a defined limited period of assessment years and records later amendments to particular entries, including adjustments to estimated costs and deductible maxima.
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