Exemption u/s 35AC - Central Government had specified for Sports Coaching Foundation Capital nature project; Sports Coaching Foundation revenue nature project; of The Sports Coaching Foundation, Hyderabad as an eligible project or scheme - S. O. 552(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Sports Coaching Foundation Capital nature project; Sports Coaching Foundation revenue nature project; of The Sports Coaching Foundation, Hyderabad as an eligible project or scheme NOTIFICATION NO. S. O. 552 ( E ) DATED 2-7-1998 Whereas by Notification Number S. O. 713(E), dated 8th August, 1995, as amended by S.O. 188(E), dated 12th March, 1997, 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 4, ( a ) Sports Coaching Foundation Capital nature project; ( b ) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of The Sports Coaching Foundation, 203, Cresent Towers, Masab Tank, Hyderabad-500 028, 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 ( a ) Sports Coaching Foundation Capital nature project; ( b ) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of The Sports Coaching Foundation, 203, Cresent Towers, Masab Tank, Hyderabad-500 028, at the estimated cost of rupees forty-two lakhs eighty-six thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10635/F. No. NC-50/98]