Exemption u/s 35AC - Central Government had specified for Integrated Rural Development Project of Jankidevi Bajaj Gram Vikash Sanstha, Pune as an eligible project or scheme - S. O. 438(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Integrated Rural Development Project of Jankidevi Bajaj Gram Vikash Sanstha, Pune as an eligible project or scheme NOTIFICATION NO. S. O. 438 ( E ) DATED 20-5-1998 Whereas by Notification Number S. O. 878(E), dated 30th November, 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 3, Integrated Rural Development Project of Jankidevi Bajaj Gram Vikash Sanstha, 55/4, University Road, Aundh, Pune-411 007, 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 years 1996-97, 1997-98 and 1998-99, vide S. O. No. 293(E), dated 4th April, 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 and enhancing the approved cost from rupees one hundred eighteen lakhs to rupees one hundred eighteen lakhs to rupees one hundred eighty lakhs sixty thousand only; 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 Integrated Rural Development Project of Jankidevi Bajaj Gram Vikash Sanstha, 55/4, University Road, Aundh, Pune-411 007, at the estimated cost of rupees one hundred eighty lakhs sixty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment years 1999-2000. [No. 10614/F. No. NC-29/98]