Exemption u/s 35 AC - Central Government had specified for Girnar Development/Drinking Water Project at Mount Girnar, Junagadh District, Gujarat of Shree Neminath Bhagwant Public Trust Rajkot as an eligible project or scheme - S.O. 56(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified for Girnar Development/Drinking Water Project at Mount Girnar, Junagadh District, Gujarat of Shree Neminath Bhagwant Public Trust Rajkot as an eligible project or scheme NOTIFICATION NO. S.O. 56 ( E ) DATED 16-1-1998 Whereas by Notification Number S.O. 92(E), dated 2nd February, 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, Girnar Development/Drinking Water Project at Mount Girnar, Junagadh District, Gujarat of Shree Neminath Bhagwant Public Trust C/o K. T. Hemani And Co., Toran, Limada Chowk, Subhash Road, Rajkot-1, as an eligible project or scheme for a period of two years beginning with the assessment year 1996-97 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 two 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 Girnar Development/Drinking Water Project at Mound Girnar, Junagadh District, Gujarat of Shree Neminath Bhagwant Public Trust C/o K. T. Hemani And Co., Toran, Limada Chowk, Subhash Road, Rajkot-1, at the estimated cost of rupees one hundred fifty lakhs only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1998-99. [No. 10510/F. No. NC-153/97]