Exemption u/s 35AC - Approved various institutions as an eligible projects or schemes - S.O.974(E) - Income Tax

Exemption u/s 35AC - Approved various institutions as an eligible projects or schemes NOTIFICATION NO. S.O.974 ( E ) DATED 14-12-1995 In exercise of the powers conferred by sub-section (1) read with clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee, hereby approves the companies specified in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the Table below and also specifies in column (4) of the said Table, the maximum amount of such cost which may be allowed as deduction under the said section 35AC. TABLE Sl No. Name of the institution Project or scheme estimated cost thereof Maximum amount of cost to be allowed as deduction under section 35AC (1) (2) (3) (4) 1. Jindal Aluminium Limited, Jindal Nagar, Tumkur Road, Bangalore-560 073. Rural Mobile Medical Clinic for Manav Charitable Hospital at Bangalore, Karnataka; likely to cost Rs.6.00 lakhs Rs.6.00 lakhs 2. Bongaigaon Refinery and Pertrochemicals Limited, P.O. Dhaligaon District: Bongaigaon, Assam 783 385. a) Welfare schemes like, development of schools and of Colleges, Scholarship scheme, drinking water, community health, adult education, handloom development, afforestation, agriculture/irrigation, model village, sports and culture, economic development and various other schemes at Bongaigaon, (b) Construction of Eye Hospital at Guwahati; likely to cost Rs. 55.00 lakhs. Rs.55.00 lakhs 2. This notification shall remain in force for a period of one year in relation to the assessment year 1996-97 in respect of projects mentioned at serial number 1 and for a period of two years in relation to the assessment years 1996-97 and 1997-98 in respect of project mentioned at serial number 2. [No. 9922 F. No. NC-156/95]