Exemption under section 35AC approves specified institutions' projects as eligible for deduction, subject to conditions and time limits. The Central Government approved specified institutions and designated particular projects as eligible for deduction of project costs under section 35AC, listing each project's estimated cost and the maximum deductible amount, imposing compliance conditions (including public notices, maintenance of beneficiary records and annual chartered accountant certification of beneficiaries from economically weaker sections), and limiting each approval to prescribed financial years; certain approvals include corpus fund components and later substitutions amend specified amounts.
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, subject to conditions and time limits.
The Central Government approved specified institutions and designated particular projects as eligible for deduction of project costs under section 35AC, listing each project's estimated cost and the maximum deductible amount, imposing compliance conditions (including public notices, maintenance of beneficiary records and annual chartered accountant certification of beneficiaries from economically weaker sections), and limiting each approval to prescribed financial years; certain approvals include corpus fund components and later substitutions amend specified amounts.
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