Exemption u/s 35AC - Central Government had specified for construction of building, purchase of equipments and running of Jnana Prabodhini Shivlal Shah Yojana (Technical Training Scheme) by Jnana Prabhodhini Solapur, as an eligible project or scheme - 516(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of building, purchase of equipments and running of Jnana Prabodhini Shivlal Shah Yojana (Technical Training Scheme) by Jnana Prabhodhini Solapur, as an eligible project or scheme NOTIFICATION NO. 516(E) DATED 26-5-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 862(E), dated 12th December, 1997, 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 20, construction of building, purchase of equipments and running of Jnana Prabodhini Shivlal Shah Yojana (Technical Training Scheme) at Miraj Taluk-North Sohapur, District-Solapur, Maharashtra, by Jnana Prabhodhini-Solapur 156D, Railway Lines, Solapur-413 001, as an eligible project or scheme for a period of three years beginning with the assessment year 1998-99. And whereas the said project or scheme is likely to extend beyond three 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 construction of building, purchase of equipments and running of Jnana Prabodhini Shivlal Shah Yojana (Technical Training Scheme) at Miraj, Taluk-North Solapur, District-Solapur, Maharashtra, which is being carried out by Jnana Prabhodhini-Solapur, 156D, Railway Lines, Solapur-413 001, at the estimated cost of rupees four crore eight lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 11399/F. No. NC-37/2000]