Exemption u/s 35AC - Central Government had specified for setting tip and running of vocational training centres for computer courses and tailoring classes at 45 centres, by Sterlite Foundation, Mumbai, as an eligible project or scheme - 635(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for setting tip and running of vocational training centres for computer courses and tailoring classes at 45 centres, by Sterlite Foundation, Mumbai, as an eligible project or scheme NOTIFICATION NO. 635(E) DATED 5-7-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 54(E), dated 16th January, 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 14, setting tip and running of vocational training centres for computer courses and tailoring classes at 45 centres, by Sterlite Foundation, 113, Samudra Mahal, Annie Besant Road, Worli, Mumbai, 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 setting up and running of vocational training centres for computer courses and tailoring classes at 45 centres, which is being carried out by Sterlite Foundation, 113, Samudra Mahal, Annie Besant Road, Worli, Mumbai, at the estimated cost of rupees one crore thirty-eight lakhs sixty thousand plus a corpus fund of rupees ten crore sixty three-lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 11423/F. No. NC-46/2000]