Exemption u/s 35AC - Central Government had specified for construction and equipment of indoor stadium, swimming pool, cinder track and play ground; of Shree Hanuman Vyayam Prasarak Mandal, Maharashtra as an eligible project or scheme - S. O. 680(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction and equipment of indoor stadium, swimming pool, cinder track and play ground; of Shree Hanuman Vyayam Prasarak Mandal, Maharashtra as an eligible project or scheme NOTIFICATION NO. S. O. 680 ( E ) DATED 11-8-1998 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 10, construction and equipment of indoor stadium, swimming pool, cinder track and play ground; at Amravati, Hatru, Harisal, and Achalpur of Shree Hanuman Vyayam Prasarak Mandal, Hanuman Vyayam Nagar, Amravati-444 605, Maharashtra, as an eligible project or scheme for a period of three years beginning with 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 and equipment of indoor stadium, swimming pool, cinder track and play ground; at Amravati, Hatru, Harisal, and Achalpur of Shree Hanuman Vyayam Prasarak Mandal, Hanuman Vyayam Nagar, Amravati-444 605, Maharashtra, at the estimated cost of rupees sixty-seven lakhs forty thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000. [No. 10661/F. No. NC-80/98]