Exemption u/s 35AC - Central Govt. had specified for Setting up and running of vocational training centres for computer courses and tailoring classes at 45 centres, by Sterlite Foundation as an eligible project or scheme - Amendment in N. No S.O.54(E) dated the 16th January,1998 - 155/2004 - Income Tax Act, 1961
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Exemption under section 35AC expanded to include more vocational centres and an increased approved project cost by Sterlite Foundation. The notification amends the existing specification of an eligible charitable project by Sterlite Foundation to expand the project to 386 vocational training centres for computer and tailoring courses and to increase the estimated total project cost and the corpus fund; the Table entry for the serial number is substituted so the project description, estimated cost, and the maximum amount allowable as a deduction under the tax provision reflect the revised figures following the National Committee's recommendation.
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 expanded to include more vocational centres and an increased approved project cost by Sterlite Foundation.
The notification amends the existing specification of an eligible charitable project by Sterlite Foundation to expand the project to 386 vocational training centres for computer and tailoring courses and to increase the estimated total project cost and the corpus fund; the Table entry for the serial number is substituted so the project description, estimated cost, and the maximum amount allowable as a deduction under the tax provision reflect the revised figures following the National Committee's recommendation.
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