Exemption u/s 35AC - Central Government had specified for technical educational project for women, comprising an Industrial Training Institute and a Polytechnic at Maharashtra as an eligible project or scheme - S. O. 409(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for technical educational project for women, comprising an Industrial Training Institute and a Polytechnic at Maharashtra as an eligible project or scheme NOTIFICATION NO. S. O. 409 ( E ) DATED 15-5-1998 Whereas by Notification Number S. O. 216(E), dated 30th March, 1993, 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 3, technical educational project for women, comprising an Industrial Training Institute and a Polytechnic at Village Shirgaon, near Ratnagiri, Maharashtra, for women from economically weaker sections of Maharshi Karve Stree Shikshan Sanstha, Karve Nagar, Pune-411 052 as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended for a period of three more years, i.e., assessment years 1996-97, 1997-98 and 1998-99 vide S. O. No. 723(E), dated 17th August, 1995; 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 the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of technical educational project for women, comprising an Industrial Training Institute and a Polytechnic at Village Shirgaon, near Ratnagiri, Maharashtra, for women from economically weaker sections of Maharshi Karve Stree Shikshan Sanstha, Karve Nagar, Pune-411 052, at the estimated cost of rupees one hundred seven lakhs sixty five thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10593/F. No. NC-29/98]