Exemption u/s 35AC - Central Government had specified for construction, furnishing and establishment of Women's DegreeCollege and Girl's Hostel at a plot area of four acres of land by Royal Education Society, Maharashtra, as an eligible project or scheme - S.O.927(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction, furnishing and establishment of Women's Degree College and Girl's Hostel at a plot area of four acres of land by Royal Education Society, Maharashtra , as an eligible project or scheme NOTIFICATION NO. S.O.927(E) DATED 20-9-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 116(E), dated the 23rd February, 1995, 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, for construction, furnishing and establishment of Women's Degree College and Girl's Hostel at a plot area of four acres of land at village Borli, Panchatan, District Raigad, Maharashtra, by Royal Education Society, Borli Panchatan, Shiwardhan, District Raigad-402 403, Maharashtra, as an eligible project or scheme for a period of three years beginning with the assessment year 1995-1996 which was extended further vide Notification No. S.O. 568(E), dated the 7th July, 1998 , for a period of three years beginning with the assessment year 1998-1999; And whereas the said project or scheme is likely to extend beyond six 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 construction, furnishing and establishment of Women's Degree College and Girl's Hostel at a plot area of four acres of land at village Borli, Panchatan, District Raigad, Maharashtra, which is being carried out by Royal Education Society, Borli Panchatan, Shiwardhan, District Raigad-402 403, Maharashtra, at the estimated cost of rupees six crore fourteen lakhs fifty one thousand only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2001-2002. [No. 298-2001-F. No. N.C-83-2001]