Exemption u/s 35AC - Central Government had specified for Integrated Rural Development project at 10 villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, by PHD Rural Development Foundation, New Delhi, as an eligible project or scheme - S.O.907(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Integrated Rural Development project at 10 villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, by PHD Rural Development Foundation, New Delhi , as an eligible project or scheme NOTIFICATION NO. S.O.907(E) DATED 20-9-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 399(E), dated the 6th June, 1996, 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 13, for Integrated Rural Development project at 10 villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, by PHD Rural Development Foundation, PHD House, Opposite Asian Games Village, New Delhi-110 016, as an eligible project or scheme for a period of three years beginning with the assessment year 1997-1998 which was extended further vide Notification No. S.O. 370(E), dated the 10th April, 2000, for a period of two years beginning with the assessment year 2000-2001; And whereas the said project or scheme is likely to extend beyond five years; And whereas the National Committee has, 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 Integrated Rural Development project at 10 villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, which is being carried out by PHD Rural Development Foundation, PHD House, Opposite Asian Games Village, New Delhi-110 016, at the estimated cost of rupees twenty five lakhs only, as an eligible project or scheme for a further period of two years commencing from the assessment year 2002-2003. [No. 278-2001-F.No. N.C-83-2001]