Exemption u/s 35AC - Central Government had specified for Integrated Rural Development Programme of Ambuja Cement Foundation, Calcutta as an eligible project or scheme - S. O. 681(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Integrated Rural Development Programme of Ambuja Cement Foundation, Calcutta as an eligible project or scheme NOTIFICATION NO. S. O. 681 ( E ) DATED 11-8-1998 Whereas by Notification Number S. O. 521(E), dated 14th July, 1994, 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, Integrated Rural Development Programme at Kodinar Taluka, Amreli District, Gujarat of Ambuja Cement Foundation, 216, A. J. C. Bose Road, Calcutta-700 017, as an eligible project or scheme for a period of two years beginning with assessment year 1995-96 which was extended by two more years by Notification Number S. O. 96(E), dated 7th February, 1997, ending with the assessment year 1998-99; And whereas the said project or scheme is likely to extend beyond four 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 two 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 Integrated Rural Development Programme at Kodinar Taluka, Amreli District, Gujarat of Ambuja Cement Foundation, 216, A. J. C. Bose Road, Calcutta-700 017, at the estimated cost of rupees seventy-six lakhs forty-two thousand only as an eligible project or scheme for a further period of two assessment years commencing from assessment year 1999-2000. [No. 10662/F. No. NC-80/98]