Exemption u/s 35AC - Central Government had specified for construction of a school building, hostel for mothers of the handicapped children and a training programme at Saraswathipuram, Mysore as an eligible project or scheme - S. O. 426(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of a school building, hostel for mothers of the handicapped children and a training programme at Saraswathipuram, Mysore as an eligible project or scheme NOTIFICATION NO. S. O. 426 ( E ) DATED 19-5-1998 Whereas by Notification Number S. O. 711(E), dated 25th September, 1992, 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 11, construction of a school building, hostel for mothers of the handicapped children and a training programme at Saraswathipuram, Mysore of Parents Association of Deaf, Children (Regd.), 273, 16th Main, Saraswathipuram, Mysore, as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended for a further period of three years, i.e., assessment year 1996-97, 1997-98 and 1998-99, vide S. O. No. 574(E), dated 27th June, 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 construction of a school building, hostel for mothers of the handicapped children and a trainning programme at Saraswathipuram, Mysore of Parents Association of Deaf Children (Regd.), 273, 16th Main, Saraswathipuram, Mysore, at the estimated cost of rupees thirty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10603/F. No. NC-29/98]