Exemption under section 35AC: notified projects declared eligible for tax-deduction for specified institutions over limited years. Approval under section 35AC designates specified institutions and their named projects or schemes as eligible for deduction, specifying estimated project costs and the maximum amount of such cost allowable as a deduction. The Notification lists project descriptions (construction, equipment, running costs, corpus funds), ties approvals to specific assessment years (one, two or three years as indicated), and records that certain estimated costs include corpus components where applicable.
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: notified projects declared eligible for tax-deduction for specified institutions over limited years.
Approval under section 35AC designates specified institutions and their named projects or schemes as eligible for deduction, specifying estimated project costs and the maximum amount of such cost allowable as a deduction. The Notification lists project descriptions (construction, equipment, running costs, corpus funds), ties approvals to specific assessment years (one, two or three years as indicated), and records that certain estimated costs include corpus components where applicable.
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