Exemption u/s 35AC - Central Government had specified for construction, furnishing and running of South Block of Ashram Sravani Old Age Home and Eye-cum-General Hospital by Association for the Care of the Aged, Kakinada as an eligible project or scheme - 631(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction, furnishing and running of South Block of Ashram Sravani Old Age Home and Eye-cum-General Hospital by Association for the Care of the Aged, Kakinada as an eligible project or scheme NOTIFICATION NO. 631(E) DATE 5-7-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 973(E), dated 14th December, 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 9, construction, furnishing and running of South Block of Ashram Sravani Old Age Home and Eye-cum-General Hospital at Ramanayyapeta Village, Near Kakinada Town, by Association for the Care of the Aged, House No. 814-1, Mahalakshmi Nilayam, Gandhi Nagar, Kakinada-4, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97, which was extended further vide Notification No. S.O. 427(E), dated 19th May, 1998, for a period of two years beginning with the assessment year 1999-2000. And whereas the said project or scheme is likely to extend beyond five 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, furnishing and running of South Block of Ashram Sravana Old Age Home and Eye-cum-General Hospital at Ramanayyapeta Village, Near Kakinada Town, which is being carried out by Association for the Care of the Aged, House No. 8-14-1, Mahalakshmi Nilayam, Gandhi Nagar, Kakinada-4, at the estimated cost of rupees nine lakhs seventy thousand only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 11419/F. No. NC-46/2000]