Exemption u/s 35 AC - Central Government had specified the setting up of common Effluent Treatment Plant at P-24, MIDC, Industrial Area, of Taloja CETP Co-operative Society Limited, Taloja, Taluka-Panvel, Raigad, Maharashtra as an eligible project or scheme - S.O.704(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified the setting up of common Effluent Treatment Plant at P-24, MIDC, Industrial Area, of Taloja CETP Co-operative Society Limited, Taloja, Taluka-Panvel, Raigad, Maharashtra as an eligible project or scheme NOTIFICATION NO. S.O.704 ( E ) DATED 3-10-1997 Whereas by notification number S.O. No. 193(E), dated 14th March, 1996, 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 2, the setting up of common Effluent Treatment Plant at P-24, MIDC, Industrial Area, Taloja, District Raigad, Maharashtra of Taloja CETP Co-operative Society Limited, P-24, MIDC, Taloja, Taluka-Panvel, Raigad, Maharashtra, as an eligible project or scheme for a period of two years commencing from the assessment year 1997-98 ; And whereas the said project or scheme is likely to extend beyond two 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 approved cost from rupees one hundred thirty-six lakhs to rupees one hundred seventy-five lakhs ; 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 setting up of common Effluent Treatment Plant at P-24, MIDC Industrial Area, Taloja, District Raigad, Maharashtra of Taloja CETP Co-operative Society Limited, P-24, MIDC, Taloja, Taluka-Panvel, Raigad, Maharashtra, at the estimated cost of rupees one hundred seventy-five lakhs only as an eligible project or scheme for a further period of one assessment year i.e., assessment year 1999-2000. [No. 10438/F. No. NC-95/97]