Exemption u/s 35 AC - Central Government specified the construction of primary school building and 2000 ft. kachha link road and providing drinking water for rural development projects named as Palli by Ramkrishna Mission Sevashrama, Athligari as an eligible project or scheme - S.O.234(E) - Income Tax

Exemption u/s 35 AC - Central Government specified the construction of primary school building and 2000 ft. kachha link road and providing drinking water for rural development projects named as Palli by Ramkrishna Mission Sevashrama, Athligari as an eligible project or scheme NOTIFICATION NO. S.O.234 ( E ) DATED 21-3-1996 Whereas by notification, vide S. O. No. 267(E), dated 29th 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 the scheme at SI. No. 10, the construction of primary school building and 2000 ft. kachha link road and providing drinking water through sinking tubewells for rural development projects named as Palli Unnayan Prakalpa, by Ramkrishna Mission Sevashrama, Athligari, as an eligible project or scheme for a period of three assessment 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 two years ; 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 the construction of primary school building and 2000 ft. Kachha link road and providing drinking water through sinking tubewells for Rural Development project named as Palli Unnayan Prakalpa, which are being carried out by the Ramkrishna Mission Sevashrama, Athligari, at the estimated cost of rupees two lakhs twenty thousand only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1997-98. [No. 10034/F. No. NC-15/96]