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TMI BlogIncome-tax (3rd Amendment) Rules, 2014X X X X Extracts X X X X X X X X Extracts X X X X ..... ome-tax Rules, 1962 ,- (a) for rule 6AAD , the following rule 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as allowed, the Central Board of Direct Taxes shall pass an order treating the application as invalid. (6) If the application form is complete in all respects, 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 peri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee has ceased its activities, or that its activities are not genuine or that its activities are not being carried out in accordance with all or any of the relevant provisions of the Act 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 notif ..... X X X X Extracts X X X X X X X X Extracts X X X X
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