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Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for construction of hospital building at Deoria (Uttar Pradesh) by Bhartiya Jeevan Dhara Educational and Charitable Trust as an eligible project or scheme - Amendment in N. No S.O. 839(E) dated the 24th July, 2003 - 140/2006 - Income Tax Act, 1961
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Withdrawal of tax exemption under section 35AC: project-specific deduction revoked and related certificate excluded from tax computation. Withdrawal of exemption under section 35AC is effected for the Bhartiya Jeevan Dhara Educational and Charitable Trust's hospital project at Deoria, following the National Committee's recommendation after an Income-tax Department enquiry. The notification omits the serial entry identifying the project and directs that the certificate furnished under the statutory certification requirement shall not be taken into account in computing income-tax, thereby removing the project-specific eligibility for the exemption.
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Provisions expressly mentioned in the judgment/order text.
Withdrawal of tax exemption under section 35AC: project-specific deduction revoked and related certificate excluded from tax computation.
Withdrawal of exemption under section 35AC is effected for the Bhartiya Jeevan Dhara Educational and Charitable Trust's hospital project at Deoria, following the National Committee's recommendation after an Income-tax Department enquiry. The notification omits the serial entry identifying the project and directs that the certificate furnished under the statutory certification requirement shall not be taken into account in computing income-tax, thereby removing the project-specific eligibility for the exemption.
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