Exemption u/s 35AC - Central Government had specified for Construction of Dev-Sangha National School and Hostel Building of Dev-Sangha Seva Pratishthan, Calcutta as an eligible project or scheme - S. O. 323(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Construction of Dev-Sangha National School and Hostel Building of Dev-Sangha Seva Pratishthan, Calcutta as an eligible project or scheme NOTIFICATION NO. S. O. 323 ( E ) DATED 11-5-1999 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 180(E), dated 10th March, 1997, 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 3---Construction of Dev-Sangha National School and Hostel Building at Bompass Town, Dewoghar, Bihar, of Dev-Sangha Seva Pratishthan, 28/2A, H.K. Settlane, Calcutta-700 050, as an eligible project or scheme for a period of three years beginning with the assessment year 1997-98: 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 project or scheme of Construction of Dev-Sangha National School and Hostel Building at Bompass Town, Deoghar, Bihar, which is being carried out by Dev-Sangha Seva Pratishthan, 28/2A, H.K. Settlane, Calcutta-700 050, at the estimated cost of rupees three crores only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 2000-2001. [No. 10919/F. No. NC-39/99]