Exemption u/s 35AC - Central Government had specified for setting up of common effluent treatment plant at MIDC, Industrial Area, Taloja, of Taloja CETP Co-operative Society Limited, Maharashtra, as an eligible project or scheme - S. O. 215(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for setting up of common effluent treatment plant at MIDC, Industrial Area, Taloja, of Taloja CETP Co-operative Society Limited, Maharashtra , as an eligible project or scheme NOTIFICATION NO. S. O. 215 ( E ) DATED 1-4-1999 Whereas by Notification No. S. O. 193(E), dated 14th March, 1996, 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 2, setting up of common effluent treatment plant at MIDC, Industrial Area, Taloja, District Raigad, Maharashtra, of Taloja CETP Co-operative Society Limited, P-24, M.I.D.C. Taloja, Taluqa-Panvel, Raigad, Maharashtra, as an eligible project or scheme for a period of two years beginning with assessment year 1997-98 which was further extended by a period of one more year in relation to the assessment year 1999-2000. And whereas by Notification No. S.O. 704(E), dated 3rd October, 1997, the estimated cost was enhanced from rupees one crore thirty six lakhs ninety thousand to rupees one crore seventy-five lakhs only; 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 one more year; 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 setting up of common effluent treatment plant at MIDC, Industrial Area, Taloja, District Raigad, Maharashtra, which is being carried out by Taloja CETP Co-operative Society Limited, P-24, M.I.D.C. Taloja, Taluqa-Panvel, Raigad, Maharashtra, at the estimated cost of rupees one crore seventy-five lakhs only as an eligible project or scheme for a further period of one assessment year in relation to the assessment year 2000-2001. [No. 10847/F. No. NC-1/99]