TaxTMI 
TaxTMI 
Income-tax (3rd Amendment) Rules, 2014
X X X X Extracts X X X X
X X X X Extracts X X X X
....ule shall be substituted, namely:- 6AAD. Guidelines for approval of agricultural extension project under section 35CCC,- (1) The agricultural extension project shall be considered for notification if it fulfils all of the following conditions, namely:- (i) the project shall be undertaken by an assessee for training, education and guidance of farmers; (ii) the project shall have prior approval of the Ministry of Agriculture, Government of India; and (iii) an expenditure (not being expenditure in the nature of cost of any land or building) exceeding the amount of twenty-five lakh rupees is expected to be incurred for the project. (2) Before undertaking any agricultural extension project, an assessee shall make an application in For....
X X X X Extracts X X X X
X X X X Extracts X X X X
....pects, the Central Board of Direct Taxes shall, within a period of one month from the end of the month in which it receives the application form complete in all respects, issue under sub-section (1) of section 35CCC, a notification in form No. 3CP to be published in Official Gazette specifying the agricultural extension project, subject to the conditions mentioned in rule 6AAE or such other conditions, as it may deem fit, to be effective for such period not exceeding three assessment years. (7) The assessee, may, atleast two months before the expiry of the effective period of the notification issued under sub-rule (6), make an application to the Central Board of Direct Taxes for notification of such project for a further period. (8) the....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t or this rule or rule 6AAE, or its activities are not being carried out in accordance with all or any of the conditions subject to which the notification was issued, pass an order for rescission of the notification issued under sub-rule (6) or sub-rule (9). (12) Before any order is passed treating the application as invalid or rejecting it or rescinding the notification, an opportunity of being heard in the matter shall be given to the assessee. (13) A copy of the order invalidating or rejecting the application or rescinding the notification shall be sent to the applicant, the Ministry of Agriculture, Government of India, the Commissioner of Income-tax or the Director of Income-tax, as the case may be, the Department of Agriculture of ....