Approval under section 10(23G) grants tax-exempt status to infrastructure projects subject to compliance and audit requirements.
Specified infrastructure projects received approval for tax-exempt treatment for the assessment years 1999-2000 to 2001-2002, subject to conformity with the related exemption provisions and rules. Approval covers four named projects-a Dabhol power station, a Navi Mumbai container terminal under a BOT/BO T arrangement, lignite-based power plants at Nani Naroli, and a bridge on NH-6-and is conditional on maintaining books, securing statutory audits, and furnishing audit reports; failure on these grounds or cessation of infrastructure activity permits withdrawal of approval.

Tax exemption recognition for a charitable trust conditioned on exclusive application of income and permitted investment modes.
Notification recognizes Yug Nirman Trust as qualifying under the Income Tax provision for the specified assessment years, conditional on applying or accumulating income exclusively for its objects, restricting investments and deposits to permitted modes with exceptions for voluntary contributions held in kind, and excluding business profits unless the business is incidental to the objectives and accounted for in separate books.

Income-tax exemption under section 10(23G) approved for specified infrastructure projects, subject to compliance and audit conditions.
Approval is granted to specified infrastructure projects for income tax exemption under section 10(23G), read with rule 2E, subject to compliance with those provisions. Each approved enterprise must maintain books of account, obtain the audit required by sub rule (7) of rule 2E, and furnish the audit report; the Central Government may withdraw approval if the enterprise ceases to carry on the infrastructure facility or fails to maintain audited accounts or to furnish the audit report.

Tax exemption approval for infrastructure projects under section 10(23G) subject to compliance and possible withdrawal.
Approval under section 10(23G) read with rule 2E is granted to specified infrastructure projects for assessment years 1999-2000 to 2001-2002, conditional on compliance with the statutory provisions including maintenance of books, audit under sub rule (7) of rule 2E and furnishing the required audit report; the Central Government may withdraw approval if an enterprise ceases the infrastructure facility or fails the accounting and audit obligations.

Tax exemption under clause 23C(v) granted to a religious trust, subject to income application and investment conditions.
Central Government notifies tax exemption under clause (23C)(v) for "Shri Jain Swetamber Nakoda Parswanath Tirth, Mewanagar (Rajasthan)" for the specified assessment years, subject to conditions: (i) income must be applied or accumulated wholly and exclusively to the institution's objects; (ii) funds (other than voluntary contributions retained as jewellery, furniture, etc.) must be invested only in forms permitted for application-period funds; and (iii) exemption excludes business income unless incidental to objects and maintained in separate books.

Income-tax Rules amendment updates Form 2B acknowledgement and requires prior-year income and loss details for block periods.
Amendment under section 295 revises Appendix II to the Income-tax Rules, 1962 by omitting the figures "19" and "199" in the acknowledgement and FORM No. 2B, and replaces item 12 with a requirement to provide chronological details of total income and losses of previous years within the block period, including returned/assessed status and whether undisclosed income is included for each year.

Tax exemption under section 10(23C)(v): Arpana Trust notified subject to income application, investment limits and business exclusion.
Notification recognises Arpana Trust, Haryana under section 10(23C)(v) for assessment years 1997 98 to 1999 2000, conditional on applying income wholly and exclusively to its objects, restricting investments to statutory permitted forms (excluding certain retained voluntary contributions), and excluding business income unless the business is incidental and maintained in separate books of account.

Tax exemption for Durand Football Tournament Society under section 10(23) subject to income application and investment restrictions.
Notification grants tax exemption under clause (23) of section 10 to Durand Football Tournament Society for assessment years 1994-95 to 1996-97, conditional on applying or accumulating income per section 11(2) and (3) as modified; restricting investments to forms in section 11(5) except notified in-kind voluntary contributions; prohibiting distribution of income to members except grants to affiliated bodies; and excluding business income unless incidental and maintained in separate books.

Approval under section 10(23C)(vi): tax exemption for an educational institution granted for specified assessment years, subject to compliance.
Approval was granted to The Daly College, Indore, under the Income-tax provision for charitable educational institutions, authorising tax-exempt status for the assessment years 1999-2000 through 2001-2002, subject to the college's conformity with and compliance to the requirements of the stated provision and the accompanying rule.

Tax exemption recognition for a football society limits fund application, investment modes, income distribution, and business scope.
Notification recognizes the Durand Football Tournament Society as eligible for exemption under clause (23) of section 10 for specified years subject to conditions: income must be applied or accumulated for the society's objects in accordance with the modified provisions of section 11; investments of funds (except certain voluntary contributions held in notified tangible forms) are restricted to modes in sub-section (5) of section 11; income distribution to members is prohibited except as grants to affiliated entities; business income is excluded unless incidental and kept in separate books.

Approval under section 10(23C)(vi) recognises an educational institution's tax-exempt status, subject to compliance for specified years.
Approval is granted to the Daly College, Indore under sub-clause (vi) of clause (23C) of section 10, read with rule 2CA of the Income-tax Rules, for the assessment years 1999-2000, 2000-2001 and 2001-2002, subject to the college conforming to and complying with the provisions of that sub-clause and rule.

Construction of hostel accommodation added as specified activity under Rule 11K, extending rule coverage to women, handicapped, elderly.
The Income-tax (Seventh Amendment) Rules, 1999 amend the Income-tax Rules, 1962 by inserting item (n) into clause (i) of rule 11K, Part II Sub-part F, specifically adding construction of hostel accommodation for women, handicapped individuals, or persons aged sixty-five years or more to the list of specified activities in that rule.

Section 80L specified bonds: 16% unsecured redeemable Punjab National Bank bonds recognised as qualifying securities.
Central Government, under section 80L of the Income tax Act, specifies Series II 16% taxable unsecured redeemable bonds issued by Punjab National Bank, identified by distinctive numbers 199927-389908 and Rs. 10,000 denomination, aggregating to the stated issuance amount, as those falling within clause (ii) of sub section (1) for the purposes of the section.

Section 80L specification of NHPC taxable secured redeemable bonds designates particular tranches as eligible for the provision.
Specification under section 80L designates particular series of taxable secured redeemable non-convertible bonds issued by National Hydroelectric Power Corporation Limited as falling within the clause for tax recognition. The notification identifies three K-Series tranches by tenure, interest terms, security, and distinctive serial-number ranges, and confines tax recognition to the bonds expressly enumerated.

Specified bonds under section 80L: taxable unsecured redeemable bonds designated eligible, with issuance identifiers provided.
Central Government specifies the 16% taxable unsecured redeemable bonds (Series II) as being covered for the purposes of section 80L of the Income tax Act, 1961 under clause (ii) of sub section (1), identifying the distinctive number range and aggregate nominal amount of the issuance to establish the bonds' eligibility under the provision.

Section 10(23C) tax notification grants exemption to People's Action for Development subject to application and investment conditions.
Notification under section 10(23C)(iv) notifies People's Action for Development, Mumbai as eligible for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (except certain voluntary contributions) may be invested only in modes specified in section 11(5); and the notification excludes profits and gains of business unless the business is incidental to the objectives and separate books are maintained.

Specification under section 80L: NHPC K Series secured redeemable bonds recognised for tax purposes across multiple tranches.
The Central Government specifies, under section 80L, three K Series secured, redeemable, non convertible bond issues of National Hydroelectric Power Corporation Limited, Haryana: Tranche I (5 years, 18% taxable), Tranche II (5 years, 17.5% taxable) and Tranche III (7 years, 17.5% taxable). Each bond is of one thousand rupees denomination; the notification records distinctive number ranges and aggregate issue amounts for each tranche and confines the action to identification of series, tenure, interest, security, redemption status, denomination and aggregate values for section 80L purposes.

Tax exemption under section 35AC: Government extends eligible status of a charitable hospital project following Committee recommendation.
The Central Government specified the land development, construction, equipment, furnishing and running of a charitable heart hospital in Rajkot as an eligible project for exemption under section 35AC, originally for three assessment years beginning 1997-98; following a National Committee recommendation the Government extended the project's eligible status for a further three assessment years commencing 2000-2001, noting the project's estimated cost and corpus fund.

Tax exemption under section 35AC extended for polio hospital project, specified for a further three-year period.
The Central Government specified the project of equipping and running a polio hospital in Ahmedabad by Polio Foundation (Shah Chimanlal Choottalal Lokhandwala Charitable Trust Hospital for the Handicapped) as an eligible project under the income-tax exemption regime for a further three assessment years commencing with the 2000-2001 assessment year, following a National Committee recommendation and an amendment to the estimated project cost.

Exemption under section 35AC extended for a specified charitable school and hostel construction project for three assessment years.
Exemption under section 35AC is specified for the Construction of Dev Sangha National School and Hostel Building at Bompass Town, Deoghar, carried out by Dev Sangha Seva Pratishthan; the National Committee recommended, and the Central Government has specified, an extension of eligibility for a further three assessment years commencing with the assessment year 2000 2001.