Exemption u/s 35AC - Central Government had specified the Running of Multifarious Rural Welfare projects and management in Madhya Pradesh, Gujarat and Maharashtra of Shri Sadguru Seva Sangh Trust, Mumbai as an eligible project or scheme - S.O. 221(E) - Income Tax

Exemption u/s 35AC - Central Government had specified the Running of Multifarious Rural Welfare projects and management in Madhya Pradesh, Gujarat and Maharashtra of Shri Sadguru Seva Sangh Trust, Mumbai as an eligible project or scheme NOTIFICATION NO. S.O. 221 ( E ) DATED 16-3-1998 Whereas by Notification No. S. O. 388(E) dated 19th May, 1997, issued under sub-section (1) read with clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 10, the Running of Multifarious Rural Welfare projects in Health Care Education, Sports and Cultural activities and construction of hospital building, equipment and furnishing and management of natural resources in Madhya Pradesh, Gujarat and Maharashtra of Shri Sadguru Seva Sangh Trust, Mafatlal House, Backbay Reclamation, Mumbai---400 020 as an eligible project or scheme for a period of three years beginning with assessment year 1998-99 ; 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 enhancing the approved cost to rupees one thousand three hundred thirty-three lakhs from rupees one thousand two hundred twenty-five lakhs ; Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the Running of Multifarious Rural Welfare projects in Health Care Education, Sports and Cultural activities and construction of hospital building, equipments and furnishing and management of natural resources in Madhya Pradesh, Gujarat and Maharashtra of Shri Sadguru Seva Sangh Trust, Mafatlal House, Backbay Reclamation, Mumbai---400 020 at the estimated cost of rupees one thousand three hundred thirty-three lakhs only as an eligible project or scheme for a period of three assessment years commencing from assessment year 1998-99. [No. 10559/F. No. NC--9/98]