Exemption u/s 35AC - Central Government had specified for scheme for award of education scholarships and grants in Gujarat and Maharashtra States, by U.V. Patel Foundation, Pune, as an eligible project or scheme - S.O. 754(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for scheme for award of education scholarships and grants in Gujarat and Maharashtra States, by U.V. Patel Foundation, Pune, as an eligible project or scheme NOTIFICATION NO. 11074 DATED 10-9-1999 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 54(E) dated the 16th January, 1998 [published at (1998) 144 CTR (St) 40], 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 scheme for award of education scholarships and grants in Gujarat and Maharashtra States, by U.V. Patel Foundation, 1215/2, Shirole Road, Shivajinagar, Pune, as an eligible project or scheme for a period of two years beginning with assessment year 1998-99 ; And whereas the said project or scheme is likely to extend beyond two 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 scheme for award of education scholarships and grants in Gujarat and Maharashtra States, which is being carried out by U.V. Patel Foundation, 1215/2, Shirole Road, Shivajinagar, Pune, at the estimated cost of rupees two crores eighty-eight lakhs as corpus fund as an eligible project of scheme for a further period of two years commencing from the assessment year 2000-2001. [F. No. NC-91/99]