Exemption u/s 35AC - Central Government had specified for construction, furnishing and establishment of Women's Degree College and Girl's Hostel at plot area of four acre of land of Royal Education Society, Borli Panchatan, shiwardhan, District Raigad Maharashtra as an eligible project or scheme - 10643 - Income Tax

Exemption u/s 35AC - Central Government had specified for construction, furnishing and establishment of Women's Degree College and Girl's Hostel at plot area of four acre of land of Royal Education Society, Borli Panchatan, shiwardhan, District Raigad Maharashtra as an eligible project or scheme NOTIFICATION NO. 10643 DATED 7-7-1998 Whereas by Notification NUmber S.O. 116(E), dated the 23rd February, 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 6, construction, furnishing and establishment of Women's Degree College and Girl's Hostel at plot area of four acre of land at Village Borli Panchatan, District raigad, Maharashtra of Royal Education Society, Borli Panchatan, shiwardhan, District Raigad-402403, Maharashtra as an eligible project or scheme for a period of three years beginning with assessment year 1995-96; 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, 1961 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, furnishing and establishment of Women's Degree College and Girl's Hostel at plot area of four acre of land at Village Borli Panchatan, District Raigad, Maharashtra of Royal Education Society, Borli Panchatan, Shiwardhan, District Raigad - 402403, Maharashtra, at the estimated cost of rupees six hundred fourteen lakhs fifty one thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1998-99.