Exemption u/s 35AC - Central Government had specified the rehabilitation centre for handicapped of Manovikas Kendra, Calcutta as an eligible project or scheme - S.O.702(E) - Income Tax

Exemption u/s 35AC - Central Government had specified the rehabilitation centre for handicapped of Manovikas Kendra, Calcutta as an eligible project or scheme NOTIFICATION NO. S.O.702 ( E ) DATED 3-10-1997 Whereas by notification number S.O. No. 617(E), dated 10th August, 1992, 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 3, the rehabilitation centre for handicapped of Manovikas Kendra, Calcutta, as an eligible project or scheme for a period of three years commencing from the assessment year 1993-94 ; And whereas by notification number S.O. 580(E), dated 27th June, 1995, the said project or scheme was specified as an eligible project or scheme without change in the approved cost for a further period of three years commencing from the assessment year 1996-97 And whereas the said project or scheme is likely to extend beyond six 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 196 1), hereby specifies the scheme or project of the rehabilitation centre for handicapped of Manovikas Kendra, Calcutta, at the estimated cost of rupees four crores only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1997-98. [No. 10436/F. No. NC-95/97]