Exemption u/s 35AC - Central Government had specified construction, furnishing and running of free school and hostel for destitute and rural blind children, Andhra Pradesh as an eligible project or scheme - S.O.700(E) - Income Tax

Exemption u/s 35AC - Central Government had specified construction, furnishing and running of free school and hostel for destitute and rural blind children, Andhra Pradesh as an eligible project or scheme NOTIFICATION NO. S.O.700 ( E ) DATED 3-10-1997 Whereas by notification number S. O. 471(E), dated 26th May, 1995, issued under sub-section (1) read with clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1, ( a ) construction, furnishing and running of free school and hostel for destitute and rural blind children ; ( b ) construction, furnishing and running of rural Geriatric Block for 50 destitutes ; ( c ) primary health centre for rural poor children ; and ( d ) community kitchen and dinning hall for inmates at Tiruchanur village, Tirupati Rural, Andhra Pradesh and Navjeevan Blind Relief Centre (Regd.) 2-21A, Saptagiri Ashram, Tiruchanur Village and Post Tirupati Rural-517503, as an eligible project or scheme for a period of three years commencing from the assessment year 1996-97 ; 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 sub-section (1) read with clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of ( a ) construction, furnishing and running of free school and hostel for 50 destitute and rural blind children ; ( b ) construction, furnishing and running of rural Geriatric Block for 50 destitutes ; ( c ) primary health centre for rural poor children ; and ( d ) community kitchen and dinning hall for inmates at Tiruchanur village, Tirupati Rural, Andhra Pradesh and Navjeevan Blind Relief Centre (Regd.) 2-21A, Saptagiri Ashram, Tiruchanur Village and Post Tirupati Rural-517503, at the estimated cost of rupees one hundred lakh ten thousand only as an eligible project or scheme for a further period of three assessment years, commencing from the assessment year 1999-2000. [No. 10434/ F. No. NC-95/97]