Exemption u/s 35AC - Central Government had specified, the construction of sports complex at Chas Kaman Lake Residential School, Near Pune district, Maharashtra Madras as an eligible project or scheme - S.O.576(E) - Income Tax

Exemption u/s 35AC - Central Government had specified, the construction of sports complex at Chas Kaman Lake Residential School, Near Pune district, Maharashtra Madras as an eligible project or scheme NOTIFICATION NO. S.O.576 ( E ) DATED 27-6-1995 Whereas by notification vide S. O. 521(E), dated 14th July, 1992, 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 11, the construction of sports complex at Chas Kaman Lake Residential School, Near Pune district, Maharashtra of Krishnamurti Foundation India, 64-65, Greenways Road, Madras-600 028, as an eligible project or scheme for a period of one assessment years commencing from the assessment year 1995-96 ; And whereas the said project or scheme is likely to extend beyond one year ; 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 or scheme for a further period of one year ; Now, therefore, the Central Government in exercise of the powers conferred by clause ( b ) of Explanation of section 35AC of the Income-tax Act, 1961 (43 of 1961) hereby specifies the scheme of construction of sports complex at Chas Kaman Lake Residential School, Near Pune District, Maharashtra, which is being carried out by Krishnamurthi Foundation India, 64-65, Greenways Road, Madras-600 028, without change in the approved cost as an eligible project or scheme for a further period of one year in relation to the assessment year 1996-97. [No. 9795/F. No. NC-44/95]