Exemption u/s 35AC - Central Government had specified for Development and extension of educational, medical and sports facilities to rural areas in 50 villages around Ankleswar, by Ankleshwar Industrial Development Society, Ankleswar, as an eligible project or scheme - 11248 - Income Tax

Exemption u/s 35AC - Central Government had specified for Development and extension of educational, medical and sports facilities to rural areas in 50 villages around Ankleswar, by Ankleshwar Industrial Development Society, Ankleswar, as an eligible project or scheme NOTIFICATION NO. 11248 DATED 23-2-2000 S.O. 162(E) - Where as by notification of the Government of India in the Ministry of Finance Number S.O. 228(E) dated the 17th March, 1994 [published at (1994) 117 CTR (St) 238], 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 5, Development and extension of educational, medical and sports facilities to rural areas (through construction of school building, Centre of education and rooms in schools with provision of equipment, mobile educational van, hospital building with equipment, mobile medical unit and prevention and cure of occupational diseases and ground tracks and auditorium/stadium) in 50 villages around Ankleswar, by Ankleshwar Industrial Development Society, K-1/205, GIDC Industrial Estate, Post Box No. 24, Ankleswar-393002, as an eligible project or scheme for a period of three years beginning with assessment year 1994-95, which was extended vide S.O. No. 218(E) dated 19th March, 1996 [published at (1996) 131 CTR (St) 49], by a period of two more years beginning with assessment year 1997-98, which was further extended vide S.O. 216(E) dated 16th March, 1998 (published at (1998) 145 CTR (St) 76], by a period of two more years beginning with assessment year 1999-2000 ; And whereas the said project or scheme is likely to extend beyond seven 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 development and extension of educational, medical and sports facilities to rural areas (through construction of school building, centre of education and rooms in schools with provision of equipment, mobile educational van, hospital building with equipment, mobile medical unit and prevention and cure of occupational diseases and ground tracks and auditorium/stadium) in 50 villages around Ankleswar, which is being carried out by Ankleshwar Industrial Development Society, K-1/205, GIDC Industrial Estate, Post Box No. 24, Ankleswar-393 002, at the estimated cost of rupees six hundred lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [F No. NC-159/99]