Exemption u/s 35AC - Central Government had specified the construction of building in area of 600 square feet with equipment and furniture for running a vocational training centre and a community wlefare centre at Vasna, Ahmedabad of Akhand Jyot Foundation, Ahmedabad as an eligible project or scheme - S.O.406(E) - Income Tax

Exemption u/s 35AC - Central Government had specified the construction of building in area of 600 square feet with equipment and furniture for running a vocational training centre and a community wlefare centre at Vasna, Ahmedabad of Akhand Jyot Foundation, Ahmedabad as an eligible project or scheme NOTIFICATION NO. S.O.406 ( E ) DATED 3-5-1995 whereas by Notification No. S.O. 228(E), dated 17th March, 1994, issued under clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4 the construction of building in area of 600 square feet with equipment and furniture for running a vocational training centre imparting training in 15 disciplines to weaker section families having income below Rs. 2,000 per month and a community wlefare centre at Vasna, Ahmedabad of Akhand Jyot Foundation, C/o Nirmal Nursing Home, Kochrab Paldi, Ahmedabad-6, as an eligible project or scheme for a period of two assessment years commencing from the assessment year 1994-95 ; And whereas, the said project or scheme is likely to extend beyond two years ; And whereas, the National Committee has, 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 of scheme for a further period of three years ; Now, therefore, the Central Government in exercise of the powers conferred by clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961, hereby specifiesthe construction of building in area of 600 square feet with equipment and furniture for running a vocational training centre imparting training in 15 disciplines to weaker section families having income below Rs. 2,000 per month and a community welfare centre at Vasna, Ahmedabad of Akhand Jyot Foundation, C/o Nirmal Nursing Home, Kochrab Paldi, Ahmedabad-6, at the estimated cost of Rs. 26.48 lakhs an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1996-97. [No. 9763/F. No. NC-30/95]