Deduction under section 35AC: Government approves specified institutions and projects, fixing eligible costs and time-limited deduction periods. Approval is granted for specified institutions and projects as eligible for tax deduction under section 35AC, listing each institution, the eligible project or scheme, the estimated project cost and the maximum portion of that cost allowable as a deduction. The notification fixes time-limited approval periods-generally three financial years for most projects and two years for one entry-and notes subsequent substitutions of certain approved cost figures by later notifications.
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.
Deduction under section 35AC: Government approves specified institutions and projects, fixing eligible costs and time-limited deduction periods.
Approval is granted for specified institutions and projects as eligible for tax deduction under section 35AC, listing each institution, the eligible project or scheme, the estimated project cost and the maximum portion of that cost allowable as a deduction. The notification fixes time-limited approval periods-generally three financial years for most projects and two years for one entry-and notes subsequent substitutions of certain approved cost figures by later notifications.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
