Exemption u/s 35 AC - Central Government had specified the Rural Development Project named as Palli Unnayan Prakalpa West Bengal-as an eligible project or scheme - S.O.207(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified the Rural Development Project named as Palli Unnayan Prakalpa West Bengal-as an eligible project or scheme NOTIFICATION NO. S.O.207 ( E ) DATED 17-3-1997 Whereas by notification number S. O. 267(E), dated 29th March, 1994, issued under clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified the scheme at serial number 10, the Rural Development Project named as Palli Unnayan Prakalpa comprising,--( a ) construction of a primary school building on land provided by the Ramakrishna Mission; ( b ) providing drinking water through sinking tube wells; and ( c ) construction of 2000 ft. Kachha link road from village Raghu Sardar Barh, Jalpai to main road, of Ramakrishna Mission Sevashram, Village Athligari, P. O. Contai, District Midnapore, West Bengal-721 401 as an eligible project or scheme for a period of three years commencing from the assessment year 1994-95 and further extended for two years by S. O. 234(E), dated 21st March, 1996; 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 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 one year and enhancing the estimated cost of the project from rupees two lakh twenty thousand to rupees three lakhs fifty thousand; 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 (43 of 1961), hereby specifies the project or scheme of the Rural Development Project named as Palli Unnayan Prakalpa comprising,--( a ) construction of a primary school building on land provided by the Ramakrishna Mission; ( b ) providing drinking water through sinking tube wells; and ( c ) construction of 2000 ft. Kachha link road from village Raghu Sardar Barh, Jalpai to main road, of Ramakrishna Mission Sevashram, Village Athligari, P. O. Contai, District Midnapore, West Bengal-721 401, at the estimated cost of rupees three lakhs fifty thousands only as an eligible project or scheme for a further period of one assessment year i.e., assessment year 1999-2000. [No. 10293/F. No. NC-15/97]