Exemption u/s 35 AC - Central Government had specified for construction of Saraswati Vidhya Mandir Residential High School for tribals with Vocational Training Centre at Village Ratanpur by Bhartiya Shikshan Avam Shedh Parishad, Bihar as an eligible project or scheme - S.O.231(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified for construction of Saraswati Vidhya Mandir Residential High School for tribals with Vocational Training Centre at Village Ratanpur by Bhartiya Shikshan Avam Shedh Parishad, Bihar as an eligible project or scheme NOTIFICATION NO. S.O.231 ( E ) DATED 21-3-1996 Whereas by notification, vide S. O. No. 224(E), dated 16th March, 1996, issued under 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 had specified at SI. No. 5, the construction of Saraswati Vidhya Mandir Residential High School for tribals with Vocational Training Centre at Village Ratanpur, District Dhanbad, Bihar, by Bhartiya Shikshan Avam Shedh Parishad, Bihar, as an eligible project or scheme for a period of three years commencing from the assessment year 1996-95 ; And whereas the said project or scheme is likely to extend beyond three years ; And whereas the National Committee being satisfied that the said project or scheme is 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 sub-section (1) read with Clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme of construction of Saraswati Vidhya Mandir Residential High School for tribals with Vocational Training Centre at Village Ratanpur, District Dhanbad, Bihar, which are being carried out by Bhartiya Shikshan Avam Shedh Parishad, Bihar, at the estimated cost of rupees one crore sixty-nine lakhs sixty-nine thousand only as an eligible project or scheme for a further period of one assessment year, i.e., assessment year 1997-98. [No. 10031/F. No. NC-15/96]