U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Yusuf Meharally Centre, Bombay - S.O. 415(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) Notification No. 10119 Dated 07/06/1996 S.O. 415(E) - WHEREAS by notification vide S.O. 602(E) dated 12th August, 1993 issued under sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961) , the Central Government had specified the scheme at serial number 8, the promotion of watershed development in Konkan region and integrated development of villages in Panvel and Pen Talukas of District Raigad, Maharashtra, by Yusuf Meharally Centre, Bombay, as an eligible project or scheme for a period of three years commencing from the assessment year 1994-95; AND WHEREAS the said project or scheme is likely to extend beyond three years; AND WHEREAS the National Committee being satisfied that the said project or scheme is executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years; NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme of promotion of watershed development in Konkan region and integrated development of villages in Panvel and Pen Talukas of District Raigad, Maharashtra, which are being carried out by Yusuf Meharally Centre, Bombay, at the estimated cost of rupees three crores twenty-two lakhs fifty thousand only as an eligible project or scheme for a further period of three assessment years, i.e., assessment years 1997-98, 1998-99 and 1999-2000.