Exemption u/s 35 AC - Central Government had specified the scheme of Bhagavatula Charitable Trust, near Railway Station, Andhra Pradesh for extension and running of Grama Arogyalayam at Yellamanchili Town, District Vishakhapatnam as an eligible project or scheme - S.O.263(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified the scheme of Bhagavatula Charitable Trust, near Railway Station, Andhra Pradesh for extension and running of Grama Arogyalayam at Yellamanchili Town, District Vishakhapatnam as an eligible project or scheme NOTIFICATION NO. S.O.263 ( E ) DATED 27-3-1997 Whereas by notification number S. O. 839(E), dated 22nd November, 1994, issued under clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified the scheme of Bhagavatula Charitable Trust, near Railway Station, Yellamanchili, District Vishakhapatnam, Andhra Pradesh-531 055, for extension and running of Grama Arogyalayam at Yellamanchili Town, District Vishakhapatnam as an eligible project or scheme for a period of three years commencing from the assessment year 1995-96. 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 three years; Now, therefore, the Central Government, in exercise of the powers conferred by clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme of Bhagavatula Charitable Trust, near Railway Station, Yellamanchili, District Vishakhapatnam, Andhra Pradesh-531 055, for extension and running of Grama Arogyalayam at Yellamanchili Town, District Vishakhapatnam, at the estimated cost of rupees thirty-five lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-99, i.e., 1998-99, 1999-2000 and 2000-2001. [No. 10324/F. No. NC-16/97]