Exemption u/s 35 AC - Central Government specified the construction equipments and furnishing of building for a school hostel, by Sanatan Rishikul Ashram Seva Trust Orissa as an eligible project or scheme - S.O.1144(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION NO. 11130 New Delhi, the 18 th November, 1999 S.O.1144(E).- Whereas by notification of the Government of India in the Ministry of Finance number S.O. 206(E) dated the 17th March, 1997 , issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961) , the Central Government had specified at serial number 11 construction, equipments and furnishing of building for a school hostel at Village Boxma, District Sambalpur, P.O. Bhojpur, Sub-division Kuchinda, Orissa, by Sanatan Rishikul Ashram Seva Trust, Village Boxma, Kuchinda, Sambalpur, Orissa, as an eligible project or scheme for a period of two years beginning with assessment year 1997-98, which was further extended vide S.O. No. 918(E)dated 29 th December, 1997 by a period of one more year in relation to assessment year 1999-2000. 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 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 one year Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, equipments and furnishing of building for a school hostel at Village Boxma, District Sambalpur, Orissa, which is being carried out by Sanatan Rishikul Ashram Seva Trust, Village Boxma, Kuchinda, Sambalpur, Orissa, at the estimated cost of rupees ten lakhs only, as an eligible project or scheme for a further period of one year in relation to assessment year 2000-2001. [F. No. NC-93/99] POMELA.B. PRASAD, Director (National Committee)