Deduction under section 35AC increased for a specified charitable development body and notification extended for two years.
Amendment by Notification No. 11139 dated 26-11-1999 substitutes a higher specified maximum cost amount for Shree Sardhav Gram Vikas Mandal in the Table to notification S.O. 180(E) (10 March 1987) under Section 35AC, issued on the National Committee's recommendation; the amended notification is extended to remain in force for two years beginning with assessment year 2000-2001.

Amendment to income-tax notification increases permitted running expenses and revises project cost, extending the notification period.
Amendment increases permitted running expenses to Rs. 6.00 lakhs per annum and substitutes the project estimate for Indian Medical Centre, Madras (Chennai), from Rs. 150.78 lakhs to Rs. 162.78 lakhs, amending the Table at serial number 14 of the earlier notification and extending that notification for two years beginning with assessment year 2000-2001.

Exemption under section 35AC extended for school construction project, renewing eligible project status for a further three-year period.
The Central Government specifies the construction of Mahakavi Bharathiyar School Building Complex at Kasuva Village by Sevalaya as an eligible project or scheme for tax relief under section 35AC for a further three-year period beginning with assessment year 2001-2002, following the National Committee's recommendation that the project is properly executed and extends beyond the initial specified term.

Tax exemption approval under section 10(23G) requires ongoing compliance or the government may withdraw approval for the power plant
Approval is granted to the conventional combined cycle power plant at Patalganga of M/s Reliance Patalganga Power Limited for income tax exemption under section 10(23G) read with rule 2E, subject to conformity with those provisions; the Central Government may withdraw the approval if the enterprise ceases to carry on the infrastructure facility or fails to maintain books, obtain an accountant's audit, or furnish the required audit report.

Cash payment limit aligned with statutory ceiling, updating rule 6DD and applied retrospectively to remove anomaly.
Amendment substitutes every occurrence of the words "ten thousand" in rule 6DD of the Income tax Rules, 1962 with "twenty thousand", effective retrospectively from 1 April 1997, to align the rule's payment threshold with the higher ceiling prescribed by section 40A(3) and to remove the inconsistency between the rule and the amended statute.

Tax exemption for specified charitable project extended for construction and furnishing of school hostel at Boxma.
Construction, equipment and furnishing of a school hostel at Village Boxma, District Sambalpur, by Sanatan Rishikul Ashram Seva Trust is specified as an eligible project or scheme for tax exemption and the Central Government has extended that specification for a further period in relation to the assessment year 2000-2001 at an estimated cost of ten lakhs, following the National Committee's recommendation under the procedural rule for further specification.

Tax exemption under section 35AC extended to a charitable hospital project delivering free medical treatment and patient support services.
Central Government specified and extended eligibility under section 35AC for the construction of Nirmay Tirth, a 200 bedded hospital with mobile dispensaries by Shree Bhagwat Vidyapeeth, providing free medical treatment, beds and diet to patients and free stay for relatives, following a National Committee recommendation that the project was being executed properly and granting a further three year specification commencing with the stated assessment year.

Section 35AC approvals: specified institutions and eligible projects with capped deductible project costs under tax rules.
Notification under section 35AC approves specified institutions and specifies, in a Table, the eligible projects or schemes each may undertake, the estimated project costs, and the maximum portion of those costs allowable as deductions under section 35AC; the Notification applies for a three-year period in relation to the named assessment years and includes substitution notes amending certain cost figures.

Deduction limit under section 35AC increased for Friendship Foundation Trust, raising the permitted project cost for tax deduction.
On the National Committee's recommendation, the Central Government amends the prior notification under Section 35AC to substitute a higher maximum amount of cost allowable as deduction for Friendship Foundation Trust, Ahmedabad, thereby increasing the ceiling of project cost eligible for deduction under the Income Tax Act.

Tax exemption under section 35AC: eligible project status for special education centres extended after regulatory recommendation.
The Central Government, under the Explanation to section 35AC of the Income-tax Act, specifies the project of equipping, furnishing and running special education centres for spastic children by the Spastics Society of Tamil Nadu as an eligible project, following a National Committee recommendation that the scheme is being executed properly, and extends that specification for a further three years beginning with assessment year 2000-2001.

Section 35AC deduction limit increased for a specified hospital, extending the enhanced corpus allowance for three assessment years.
Amendment increases the maximum allowable corpus fund deduction for the Hindu Mission Hospital, Chennai under section 35AC by substituting the previously prescribed corpus amount with a higher corpus amount in the notification table; the change is made by the Central Government on the National Committee's recommendation and extends the amended notification for a further period of three years beginning with the stated assessment year.

Section 35AC approvals authorise capped tax deductions for specified corporate projects within a defined claim period.
Approval under section 35AC is granted for specified corporate-sponsored projects, identifying approved companies, describing each eligible project with its estimated cost, and fixing the maximum portion of those costs allowable as a deduction under the Income-tax Act; the notification also limits the period during which the listed projects may claim the deduction.

Exemption under section 35AC extended for Vrudhashram and Eye Hospital construction project following National Committee recommendation.
The Central Government specifies extension of eligibility under section 35AC for the construction and provision of equipments and amenities for Vrudhashram and Eye Hospital at Sachina Sub Panchayat, Village Haripur, carried out by Shri Hari Public Charitable Trust, as an eligible project for a further three years beginning with assessment year 2000-2001, following a National Committee recommendation and at an estimated cost of eighty seven lakhs fifty two thousand rupees.

Tax exemption approval under section 10(23G) granted to Harihar combined cycle power project, subject to compliance and audit conditions.
Approval under section 10(23G) read with rule 2E was granted for assessment years 1999-2000 through 2001-2002 to the 104MW Combined Cycle Power Project at Harihar by M/s Atria Power Corporation Limited. The approval is subject to compliance with section 10(23G) and rule 2E and is withdrawable if the undertaking ceases to be an infrastructure facility, fails to maintain books and obtain the audit required by sub-rule (7) of rule 2F, or fails to furnish the audit report required by sub-rule (7) of rule 2E.

Tax exemption under Section 10(23C)(v): Shri Saibaba Sansthan must apply income, limit investments, maintain separate books.
Notification under Section 10(23C)(v) confers tax-exempt status on Shri Saibaba Sansthan for assessment years 1999-2000 to 2001-2002 subject to conditions: (i) income must be applied or accumulated wholly and exclusively for the institution's objects; (ii) funds must be invested only in modes specified in section 11(5) except voluntary contributions preserved as specified; and (iii) exemption does not cover business income unless incidental to objectives and maintained in separate books.

Tax exemption notification grants conditional recognition to a religious congregation subject to income application, investment, and business-accounting conditions.
Notification grants conditional tax-exempt recognition to The Congregation of the Franciscan Sisters of the Presentation of the Blessed Virgin Mary, Coimbatore for specified assessment periods, subject to application of income wholly and exclusively to its objects, restriction of investments to prescribed modes (with limited exceptions for voluntary contributions retained as jewellery or furniture), and exclusion of business income unless incidental to objectives and maintained in separate books.

Tax exemption under section 10(23C)(vi) approved for The Mahindra United World College, subject to compliance.
Approval is granted to The Mahindra United World College of India, Mumbai as eligible for a charitable education exemption under section 10(23C)(vi) read with rule 2CA, subject to the Trust's conformity and compliance with the statutory and regulatory conditions specified under that provision.

Approval as long term industrial finance corporation recognized for tax treatment, subject to statutory compliance.
The Central Government approved M/s Meghalaya Industrial Development Corporation Limited as a corporation providing long term finance for industrial development for purposes of section 36(1)(viii) of the Income tax Act, recognising its status for the specified assessment years. The approval is subject to the condition that the company will conform to and comply with the provisions of section 36(1)(viii) of the Act.

Approval as long-term finance corporation permits tax recognition for industrial finance activities, subject to statutory compliance requirements.
Approval of M/s Kerala Power Finance Corporation Limited as a corporation engaged in providing long-term finance for industrial development for the purposes of section 36(1)(viii) is recorded for the relevant assessment year, subject to the condition that the company conform to and comply with the provisions of section 36(1)(viii).

Tax exemption under section 10(23G) for specified infrastructure projects, subject to compliance and possible withdrawal for breaches.
Notification approves specified enterprises for tax exemption under section 10(23G) for assessment years 1999-2000 to 2001-2002, conditional on compliance with section 10(23G) and rule 2E. Approval is subject to withdrawal if the enterprise ceases to provide the infrastructure facility, fails to maintain books and obtain the audit required by sub rule (7) of rule 2E, or fails to furnish the required audit report. Four projects-an ROB on a national highway, a cellular service licence project, a petcoke thermal power station, and a cogeneration plant-are specifically listed as approved.