Exemption u/s 35AC - Central Government had specified for construction of rural primary school and construction of Gynaecology Ward in Sanjeevan Hospital by Krishnamurti Foundation India, Chennai, as an eligible project or scheme - S.O.919(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of rural primary school and construction of Gynaecology Ward in Sanjeevan Hospital by Krishnamurti Foundation India, Chennai, as an eligible project or scheme NOTIFICATION NO. S.O.919(E) DATED 20-9-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 422(E), dated the 19th May, 1998, 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 2, for ( a ) construction of rural primary school and ( b ) construction of Gynaecology Ward in Sanjeevan Hospital at village Sarai Mohna, District Varanasi, by Krishnamurti Foundation India, 64-65, Greenways Road, Chennai-600028, as an, eligible project or scheme for a period of three years beginning with the assessment year 1999-2000; And whereas the said project or scheme is likely to extend beyond three 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 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 ( a ) construction of rural primary school and ( b ) construction of Gynaecology Ward in Sanjeevan Hospital at village Sarai Mohna, District Varanasi, which is being carried out by Krishnamurti Foundation India, 64-65, Greenways Road, Chennai-600 028, at the estimated cost of rupees twenty eight lakhs sixty thousand only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2002-2003. [No. 290-2001-F. No. N.C-83-2001]