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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Sports Center Project in Agra Extended for Tax Exemption Under Section 35AC, Income-tax Act 1961</h1> The Central Government has extended the eligibility of the project for the construction and running of a sports center in Agra by a charitable trust as an eligible scheme under section 35AC of the Income-tax Act, 1961. Initially specified in 1996 for three years starting from the assessment year 1997-98, the project has been recommended for an additional three-year extension due to satisfactory execution. The project, with an estimated cost of INR 1.55 crore, will now continue as an eligible scheme for tax exemption purposes for the assessment years beginning in 2000-2001.
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