Exemption u/s 35AC - Central Government had specified for construction of school, college, hostel, library and sports complex by Shri Maldevji Odedra Smarak Trust, Porbandar , as an eligible project or scheme - 632(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of school, college, hostel, library and sports complex by Shri Maldevji Odedra Smarak Trust, Porbandar , as an eligible project or scheme NOTIFICATION NO. 632(E) DATED 5-7-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 193(E), dated 14th March, 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 3, construction of school, college, hostel, library and sports complex at Ran Area, Near Bird Sanctuary, Porbandar, Gujarat, by Shri Maldevji Odedra Smarak Trust, C/o. Maldevji Odedra Mahila College, S. T. Road, Porbandar 360 575, as an eligible project or scheme for a period of three years beginning with the assessment year 1997-98. 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 school, college, hostel, library and sports complex at Ran Area, Near Bird Sanctuary, Porbandar, Gujarat, which is being carried out by Shri Maldevji Odedra Smarak Trust, C/o. Maldevji Odedra Mahila College, S. T. Road, Porbandar-360 575, at the estimated cost of rupees four crore only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2000-2001. [No. 11420/F. No. NC-46/2000]