U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Agriculture development trust, Baramati, Pune - S.O. 210(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 10296 New Delhi the 17 th March, 1997 S. O. 210(E) .-Whereas by notification number S.O. 471 (E) dated the 26 th May, 1995 issued under clause (b) of explanation to section 35AC of the Income tax Act, 1961 (43 of 1961), the central Government had specified the scheme of Agriculture development trust, Baramati, Pune, for the construction and furnishing of Shardabai Pawar Mahila Arts, commerce and Science College at Malegaon, Maharashtra, as an eligible project or scheme for a period of two years commencing from the assessment year 1996-97; And, whereas, the said project or scheme is likely to extend beyond two years; And, whereas, the National Committee being satisfied that the said project or scheme is being 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 two years; Now, therefore, the Central Government, in exercise of the powers conferred by clause (b) of explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961) hereby specifies the scheme of Agriculture Development trust, Baramati, Pune for the construction and furnishing of Shardabai Pawar Mahila Arts, Commerce and Science College at Malegaon, Maharashtra, at the estimated cost of rupees seventy lakhs twenty thousand only as an eligible project or scheme for a further period of two assessment years commencing from assessment year 1998-99. [F. No. NC-15/97] V.K. SEHGAL, Dy. Secy.