Exemption u/s 35AC - Central Government had specified for construction of building and furnishing of Old Age Home and Seva Centre by Shri Satya Sai Trust, Chandigarh, as an eligible project or scheme - 633(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of building and furnishing of Old Age Home and Seva Centre by Shri Satya Sai Trust, Chandigarh , as an eligible project or scheme NOTIFICATION NO. 633(E) DATED 5-7-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 198(E), dated 12th March, 1998, 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, construction of building and furnishing of Old Age Home and Seva Centre at Sector-30B, Chandigarh, by Shri Satya Sai Trust, Haryana and Chandigarh, 2093, Sector-15C, Chandigarh-160015, 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 and furnishing of Old Age Home and Seva Centre at Sector-30B, Chandigarh, which is being carried out by Shri Satya Sai Trust, Haryana and Chandigarh, 2093, Sector-15C, Chandigarh 160015, at the estimated cost of rupees seventy-six lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 11421/F. No. NC-46/2000]