Exemption under section 35AC: approved projects and capped deductible costs for defined assessment periods. The Central Government approves specified companies' projects as eligible for deduction under the Income-tax Act's exemption under section 35AC, identifying each project, its estimated cost and the maximum portion of that cost allowable as a deduction, and limits the period of validity for those approvals to defined assessment years as set out in the notification.
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: approved projects and capped deductible costs for defined assessment periods.
The Central Government approves specified companies' projects as eligible for deduction under the Income-tax Act's exemption under section 35AC, identifying each project, its estimated cost and the maximum portion of that cost allowable as a deduction, and limits the period of validity for those approvals to defined assessment years as set out in the notification.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
