Exemption u/s 35AC - of the Income-tax Act, 1961, the Central Government had specified for various institutions as eligible project or schemes - 001/2007 [F.No. NC-274/3/2007] - Income Tax Act, 1961
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Exemption under section 35AC: specified institutions' projects approved for deductible expenditure across a three-year period. Approval under section 35AC identifies specified institutions and their eligible projects, records estimated project costs and prescribes the maximum portion of such costs that may be allowed as a deduction. The notification confines the deduction entitlement to the capped amounts listed and limits the approval's applicability to the three stated financial years.
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: specified institutions' projects approved for deductible expenditure across a three-year period.
Approval under section 35AC identifies specified institutions and their eligible projects, records estimated project costs and prescribes the maximum portion of such costs that may be allowed as a deduction. The notification confines the deduction entitlement to the capped amounts listed and limits the approval's applicability to the three stated financial years.
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