Exemption u/s 35AC - Central Government had specified for construction of Mahakavi Bharathiyar School Building Complex at Kasuva Village, Thiruninaravur, Tamilnadu, by Sevalaya, Chennai, as an eligible project or scheme - 11137- S.O. 1173(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of Mahakavi Bharathiyar School Building Complex at Kasuva Village, Thiruninaravur, Tamilnadu, by Sevalaya, Chennai, as an eligible project or scheme NOTIFICATION NO. 11137 DATED 26-11-1999 S.O. 1173(E). - Whereas by notification of the Government of India in the Ministry of Finance under S.O. 388(E) dated the 19th May, 1997 [published at (1997) 140 CTR (St) 1], issued under 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 construction of Mahakavi Bharathiyar School Building Complex at Kasuva Village, Thiruninaravur, Tamilnadu, by Sevalaya, 109, V.M. Street, Mylopore, Chennai, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99. And whereas the said project or scheme is likely to extent 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 scheme or project of construction of Mahakavi Bharathiyar School Building Complex at Kasuva Village, Thiruninaravur, Tamilnadu, which is being carried out by Sevalaya, 109, V.M. Street, Mylopore, Chennai, at the estimated cost of rupees one crore twelve lakhs only, as an eligible project or scheme for a further period of three years beginning with assessment year 2001-2002. [F. No. NC-93/99]