Exemption u/s 35AC - Central Government had specified for primary health projects at 30 villages of Sundergarh District of Orissa by Dalmia Bharat Seva Trust, Orissa, as an eligible project or scheme - 502(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for primary health projects at 30 villages of Sundergarh District of Orissa by Dalmia Bharat Seva Trust, Orissa, as an eligible project or scheme NOTIFICATION NO. 502(E) DATED 26-5-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S.O. 469(E), dated 2nd July, 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 12, primary health projects at 30 villages of Sundergarh District of Orissa by Dalmia Bharat Seva Trust, P.O. Rajgangapur-770017, Orissa, as an eligible project or scheme for a period of two years beginning with the assessment year 1997-98, which was extended vide S. O. No. 917(E), dated 29th December, 1997, for a period of two more years beginning with the assessment year 1999-2000. And whereas the said project or scheme is likely to extend beyond four 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 and amending the project cost from Rs. 7.08 lakhs to Rs. 10 lakhs ; 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 primary health projects at 30 villages of Sundergarh District of Orissa which is being carried out by Dalmia Bharat Seva Trust, P.O. Rajgangapur-770017, Orissa, at the estimated cost of rupees ten lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 11385/F. No. NC-37/2000]