Exemption under section 35AC approves specified institutions' projects as eligible for deduction over prescribed multi year periods. Central Government, on the National Committee's recommendation, notifies specified institutions and approves particular projects or schemes as eligible for benefit under section 35AC, recording for each the estimated cost and the maximum amount allowable as a deduction and specifying the financial years during which the approved deduction may be claimed.
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 specified institutions' projects as eligible for deduction over prescribed multi year periods.
Central Government, on the National Committee's recommendation, notifies specified institutions and approves particular projects or schemes as eligible for benefit under section 35AC, recording for each the estimated cost and the maximum amount allowable as a deduction and specifying the financial years during which the approved deduction may be claimed.
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 
