Exemption u/s 35AC - Central Government specified the International Stadium of Greater Cochin Development Authority, Kochin as an eligible project or scheme - S.O.824(E) - Income Tax

Exemption u/s 35AC - Central Government specified the International Stadium of Greater Cochin Development Authority, Kochin as an eligible project or scheme NOTIFICATION NO. S.O.824 ( E ) DATED 29-9-1995 Whereas by notification, vide S.O. No. 224(E), dated 16th March, 1994 issued under sub-section (1) read with 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 International Stadium of Greater Cochin Development Authority, Kochin-682 020, 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 or scheme for a further period of two years. Now, therefore, the Central Government in exercise of the powers conferred by sub-section (1) read with clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme of the International Stadium, which is being carried out by Greater Cochin Development Authority, Kochin-682 020, at the estimated cost of rupees one thousand lakhs as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1996-97. [No. 9885/F. No. NC-102/95]