Tax exemption approval for infrastructure projects conditioned on compliance and subject to governmental withdrawal for non-compliance.
Approval under section 10(23G) read with rule 2E was granted to M/s East Coast Consultants and Infrastructure Limited for its BOT bridge project, subject to compliance with section 10(23G) and rule 2E, maintenance of books, audit by an accountant and furnishing of the audit report; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity or fails to maintain, audit, or furnish required accounts and reports.

Research approval under section 35 imposes specified accounting and annual reporting obligations for tax-exemption compliance.
Approval was granted to The Institute of Chartered Accountants of India as an Association under section 35, conditioned on maintaining separate research books, filing an annual research return to the Department of Scientific & Industrial Research by 31st May, and submitting audited annual accounts and audited income & expenditure accounts for research activities to designated tax and research authorities by 31st October, in addition to the income-tax return; renewal applications must be submitted in triplicate through tax authorities and directly to the Department.

Tax exemption for specified debentures under section 80L extends to named IDBI Flexibonds in the 13th series.
Notification under section 80L(1)(ii) specifies certain debentures of the Industrial Development Bank of India in Flexibonds 13th Series (2001 02) - namely the Regular Income Bond, Infrastructure Bond and Retirement Bond - identified by series, bond type, option categories and distinctive number ranges, each having a stated face value and, for the retirement bond, a specified minimum investment, for the purposes of clause (ii) of sub section (1) of section 80L.

Tax deduction eligibility for specified debentures under section 80L(1)(ii), authorising certain IDBI bonds as eligible.
The Central Government, under clause (ii) of sub section (1) of section 80L, specifies four categories of IDBI debentures in Flexibonds 12th Series (2001 02) - Regular Income Bond, Growing Interest Bond, Infrastructure (Tax Saving) Bond and Retirement Bond - each identified by distinctive numbering ranges and a specified face value, with the Retirement Bond subject to a minimum investment requirement.

Tax exemption notification recognises Grocery Markets Board subject to conditions on income use, investments, business income and filing.
Notification recognises the Grocery Markets & Shops Board, Mumbai as entitled to exemption under clause (23C)(iv) of section 10 for assessment years 1990-91 to 1992-93, conditional on: application or accumulation of income solely for its objects; investment and deposit restrictions to forms permitted for charitable funds; exclusion of business income unless incidental and separately accounted; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a similar charitable organisation.

Tax exemption notification: Jesuit Madurai Province granted Section 10(23C)(iv) recognition subject to compliance conditions.
Notification granting Section 10(23C)(iv) recognition to The Jesuit Madurai Province for assessment years 1997-98 to 1999-2000, conditioned on applying or accumulating income wholly and exclusively to its objects; restricting investments to forms permitted by section 11(5) except certain voluntary contributions; excluding business income unless incidental with separate books; regular filing of income tax returns; and on dissolution transferring surplus assets to a charitable organisation with similar objectives.

Tax exemption under clause 23C(iv) of section 10 granted to a charitable trust subject to compliance conditions.
Notification designates Adhiparasakthi Charitable, Medical, Educational and Cultural Trust as eligible under clause (23C)(iv) of section 10 of the Income-tax Act for the specified assessment years, subject to conditions: income must be applied or accumulated exclusively for its objects; investments and deposits must be limited to permitted modes (excluding certain voluntary contributions held in kind); business income is excluded unless incidental and separately accounted; regular filing of income-tax returns is required; and on dissolution surplus assets must go to a similar charitable organisation.

Jurisdiction over Permanent Account Number matters now vested in specified Chief Commissioners with permitted delegation to subordinate officers.
The notification directs specified Chief Commissioners of Income-tax, as listed in the newly inserted Schedule II, to exercise powers and perform functions relating to permanent account number matters for persons assessable by the Income-tax authorities identified in Schedule II, effective from 1st July, 2003. It substitutes references to the original Schedule with "Schedule I" and authorises a delegation chain whereby Chief Commissioners may authorise Commissioners, who may authorise Joint Commissioners, who in turn may authorise subordinate Assessing Officers to exercise those powers.

Approval under section 35: research institution granted tax-exemption eligibility subject to annual audited accounts and reporting requirements.
The Centre for Science & Environment was approved as a notified Institution for the period 14.1.2000 to 31.3.2002, subject to maintaining separate research accounts; filing an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May each year; and submitting copies of audited annual accounts and audited income & expenditure accounts for the approved research activities to specified income-tax and scientific authorities by 31 October each year, alongside the return of income-tax. Renewal applications must be made in triplicate through the tax exemptions authority and directly to the Secretary, DSIR.

Tax exemption for SLR power bonds specified under income-tax law, covering bonds issued on or after October.
Notification under section 10(15) designates the "8.5% Tax Free SLR Power Bonds" issued by the Reserve Bank of India on behalf of State Governments as qualifying for the income-tax exemption, and specifies operative issuance terms including issuance timing, issuing authority, prescribed interest rate, fixed long-term tenure, and the aggregate number and principal amount of bonds covered.

Tax exemption under clause 23C(v) of section 10 granted conditionally, subject to application of income and compliance requirements.
Notification under clause (23C)(v) of section 10 designates Shri Dwarkadhishji Mandir for exemption, conditioned on exclusive application or accumulation of income for institutional objects, investment of funds only in forms permitted by section 11(5) (except certain voluntary contributions), exclusion of business income unless incidental and separately accounted, regular filing of income-tax returns, and transfer of surplus and assets on dissolution to a charitable organisation with similar objectives.

Commencement date amendment: income tax amendment rules now commence from 6th September instead of 1st April.
The Income tax (Ninth Amendment) Rules, 2003 substitute the commencement provision in the Income tax (Twenty third Amendment) Rules, 2002 so that the earlier amendments shall come into force on the sixth day of September, 2002 instead of being deemed to have come into force on the first day of April, 2002.

Tax exemption under section 35AC extended, project cost ceiling increased and donation balance utilisation queried.
The Central Government specified the CRY Supported Development Project by CRY, DDA Slum Wing Barat Ghar as an eligible project under section 35AC for a further three-year period and amended the original notification to increase the maximum allowable project cost; the National Committee recommended the extension and cost enhancement while requesting details on how any balance from donations will be utilised.

Exemption under section 35AC extended for Vaso Arogya Mandal hospital project by central government for a further term.
Central Government specifies continued eligibility under the Income-tax Act for Vaso Arogya Mandal's hospital project-construction, equipment purchase and operation at Vaso, Nadiad-following a National Committee recommendation, extending the project's eligible period for a further three years from assessment year 2004-2005, with an estimated cost of forty-two lakhs.

Tax exemption under section 35AC extended for eligible charitable building and welfare project, maintaining continued tax eligibility.
Central Government specified extension of tax exemption under section 35AC for the construction and running of an Old Age Home, Dhyan Yoga Kendra and Ayurvedic Dispensary at Village Bhagdevar, Mirzapur, executed by Brahmavetta Shree Devaraha Hans Baba Trust, following a recommendation by the National Committee and stating the estimated project cost in the notification.

Tax exemption under section 35AC: government specified extension for a rural welfare project enabling continued donor relief.
The Central Government specified the scheme of running rural welfare projects in health care, education, sports and cultural activities at Jankikund and Anandpur by Shri Sadguru Seva Sangh Trust as an eligible project under section 35AC, following a National Committee recommendation under rule 11M(5). The specification extends the project's eligibility for a further three year period commencing with assessment year 2004 2005, identifies the implementing trust and locations, and records the estimated corpus fund, thereby enabling income tax exemption claims in accordance with the statutory renewal mechanism.

Exemption under section 35AC extended for midday meal project after national committee recommendation and regulatory specification.
The Central Government, exercising powers under sub section (1) read with clause (b) of the Explanation to section 35AC, specifies the Mid-day Meal Scheme carried out by Maria Seva Sangha in three Bangalore schools as an eligible project for a further period of one year commencing from the assessment year 2004 2005, following the National Committee's recommendation that the scheme is being executed properly and noting the project's estimated cost.

Income tax exemption extends eligibility for Eye Care Programme, specifying continuation of the project for an additional period.
Exemption under section 35AC is extended to the Eye Care Programme in the National Capital Region carried out by Lok Kalyan Samiti; the National Committee recommended continuation under the Income-tax Rules and the Central Government, using powers under the enabling provision and Explanation to section 35AC, specifies the project as eligible for a further two-year period commencing from the assessment year 2003-2004, at the estimated cost stated in the notification.

Tax exemption extension under Section 35AC for charitable heart-care and research projects continues tax benefits.
Central Government specifies continuation of eligible project status under Section 35AC for Mahavir Heart Research Foundation's Mumbai scheme covering detection, prevention, research and education, diagnosis, curing and surgical treatment of heart patients, and maintenance of an Atithi Griha; the National Committee recommended extension under the Income-tax Rules, and the scheme is specified for a further three-year period commencing with assessment year 2003-2004.

Tax exemption for eligible healthcare project extended after committee recommendation to preserve specified eligibility.
Central Government, relying on the National Committee's recommendation under the Income-tax Rules, specified the Umeed Khanna Foundation's healthcare project at Sangrur as an eligible project under Section 35AC for a further three-month period commencing in the stated assessment year; the notification identifies the executing entity, project purpose of purchase of equipment and running the health-care project, the project location, and records the project's estimated cost.