Exemption u/s 35AC - Central Government had specified for Integrated Rural Development Project comprising construction of twenty-five primary schools, ten community centres, one vocational training centre at Dibrugarh - S. O. 322(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Integrated Rural Development Project comprising construction of twenty-five primary schools, ten community centres, one vocational training centre at Dibrugarh NOTIFICATION NO. S. O. 322 ( E ) DATED 11-5-1999 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 228(E), dated 17th March, 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 12---Integrated Rural Development Project comprising construction of twenty-five primary schools, ten community centres, one vocational training centre at Dibrugarh, one hundred old age homes, one hundred tubewells, five health centres, mobile dispensaries, road construction, one hundred dwelling units for poor, one hundred low-cost latrines and first phase of sports stadium, of Murleidhor Jalan Foundation, 25, Ballygunge Circular Road, Calcutta-700 019, as an eligible project or scheme for a period of three years beginning with the assessment year 1994-95 which was further extended, vide S.O. 482(E), dated 5th July, 1996, by a period of three more years commencing from the assessment year 1997-98: And whereas the said project or scheme is likely to extend beyond six 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 project or scheme of Integrated Rural Development Project comprising construction of twenty-five primary schools, ten community centres, one vocational training centre at Dibrugarh, one hundred old age homes, one hundred tubewells, five health centres, mobile dispensaries, road construction, one hundred dwelling units for poor, one hundred low-cost latrines and first phase of sports stadium, which are carried out by Murleidhor Jalan Foundation, 25, Ballygunge Circular Road, Calcutta-700 019, at the estimated cost of rupees four crore seventeen lakhs seventy four thousands only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 2000-2001. [No. 10918/F. No. NC-39/99]