Exemption u/s 35AC - Central Government had specified, the technical education project for women, comprising an Industrial Training Institute and a Polytechnic Maharashtra for women from economically weaker sections Pune as an eligible project or scheme - S.O.723(E) - Income Tax

Exemption u/s 35AC - Central Government had specified, the technical education project for women, comprising an Industrial Training Institute and a Polytechnic Maharashtra for women from economically weaker sections Pune as an eligible project or scheme NOTIFICATION NO. S.O.723 ( E ) DATED 17-8-1995 Whereas by Notification No. S.O. 216(E), dated 30th March, 1993 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 3, the technical education project for women, comprising an Industrial Training Institute and a Polytechnic at village Shirgaon, near Ratnagiri, Maharashtra for women from economically weaker sections of the Maharshi Karve Stree Shikshan Samstha, Karve Nagar, Pune, as an eligible project or scheme for a period of three assessment years commencing from the assessment year 1993-94 ; And whereas, the said project or scheme is likely to extend beyond three 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 or 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 specifies the technical educational project for women, comprising an Industrial Training Institute and a Polytechnic at village Shirgaon, near Ratnagiri, Maharashtra for women from economically weaker sections of the Maharshi Karve Stree Shikshan Samstha, Karve Nagar, Pune, at the estimated cost of rupees one hundred seven lakhs sixty-five thousand as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1996-97. [No. 9841/F. No. NC-77/95]