Home Notifications 1997 Income Tax Income Tax - 1997 Section 035AC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Exemption u/s 35 AC - Central Government had specified for Construction of building for running Indoor Gymnasium Hall and Health Club imparting free training to youth Gymanstics Association, Gymnastics Hall, Boys High School Compound, Allahabad as an eligible project or scheme - S.O. 914(E) - Income TaxExtract Exemption u/s 35 AC - Central Government had specified for Construction of building for running Indoor Gymnasium Hall and Health Club imparting free training to youth Gymanstics Association, Gymnastics Hall, Boys High School Compound, Allahabad as an eligible project or scheme NOTIFICATION NO. S.O. 914 ( E ) DATED 29-12-1997 Whereas by Notification Number S. O. 521(E), dated the 14th July, 1994, as amended by Number S. O. 579(E), dated 27th June, 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 9, Construction of building for running Indoor Gymnasium Hall and Health Club on 5 acres of land at Yamuna Bank Road, Allahabad, for imparting free training to youth for promoting gymnastics of Allahabad Gymanstics Association, Allahabad Gymnastics Hall, Boys High School Compound, 4 P. D. Tandon Road, Allahabad, 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 exectuted 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 as also change in the location of the project from Yamuna Nagar Road to Plot No. 20, M-212, Beniganj, Tehsil Chail, Allahabad; 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 Construction of building for running Indoor Gymnasium Hall and Health Club at plot no. 20, M-212, Beniganj, Tehsil Chail, Allahabad for imparting free training to youth for promoting gymnastics being carried out by the Allahabad Gymanstics Association, Allahabad Gymnastics Hall, Boys High School Compound, 4 P.D. Tandon Road, Allahabad, at the estimated cost of rupees two hundred twenty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-99. [No. 10483/F. No. NC-141/97]
|