Exemption u/s 35AC - Central Government had specified for project for development and extension of Institution of Nootan Bharati, Gujarat as an eligible project or scheme - S. O. 434(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for project for development and extension of Institution of Nootan Bharati, Gujarat as an eligible project or scheme NOTIFICATION NO. S. O. 434 ( E ) DATED 20-5-1998 Whereas by Notification Number S. O. 193(E), dated 14th March, 1996, 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 8, project for development and extension of Institution of Nootan Bharati---( a ) Gram Vidyapeeth; ( b ) Rural Technical Institution; ( c ) Primary Health Care Service Hospital, ICDs and Women and Children Welfare Activities; ( d ) Hostel for ladies students; and ( e ) Hostel for backward class students; at village Madanagadh, Gujarat of Nootan Bharati, Madanagadh, Tal. Palanpur, District Banaskantha, Gujarat as an eligible project or scheme for a period of two years beginning with the assessment year 1997-98; 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 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 project for development and extension of Institution of Nootan Bharati---( a ) Gram Vidyapeeth; ( b ) Rural Technical Institution; ( c ) Primary Health Care Service Hospital, ICDs and Women and Children Welfare Activities; ( d ) Hostel for ladies students; and ( e ) Hostel for backward class students; at village Madanagadh, Gujarat of Nootan Bharati, Madanagadh, Tal. Palanpur, District Banaskantha, Gujarat, at the estimated cost of rupees one hundred ninety-three lakhs fifty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10610/F. No. NC-29/98]