Exemption u/s 35AC - Central Government had specified for construction of Phase-II of Orphanage Child Care Centre of Janani Ashish Charitable Trust, Thane as an eligible project or scheme - S. O. 429(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of Phase-II of Orphanage Child Care Centre of Janani Ashish Charitable Trust, Thane as an eligible project or scheme NOTIFICATION NO. S. O. 429 ( E ) DATED 19-5-1998 Whereas by Notification Number S. O. 844(E), dated 17th October, 1995, 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 Phase-II of Orphanage Child Care Centre at Plot No. P-37, Residential Zone, MIDC, Dombivli, Thane of Janani Ashish Charitable Trust, Plot P-37, MIDC, Residential Zone, Dombivli, Thane-421 201 as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97; 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 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 Phase-II of Orphanage Child Care Centre at Plot No. P-37, Residential Zone, MIDC, Dombivli, Thane of Janani Ashish Charitable Trust, Plot P-37, MIDC, Residential Zone, Dombivli, Thane-421 201, at the estimated cost of rupees twenty-eight lakhs sixty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10606/F. No. NC-29/98]