Exemption u/s 35AC - Central Government had specified for construction of building, equipments of Eye Research Training Centre by Veerayatan, Rajgir (Nalanda), Bihar, as an eligible project or scheme - 636(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of building, equipments of Eye Research Training Centre by Veerayatan, Rajgir (Nalanda), Bihar , as an eligible project or scheme NOTIFICATION NO. 636(E) DATED 5-7-2000 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 21, construction of building, equipments of Eye Research Training Centre at Veerayatan, Rajgir, Nalanda, Bihar, by Veerayatan, Rajgir (Nalanda), Bihar-803 116, 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, equipments of Eye Research Training Centre at Veerayatan, Rajgir, Nalanda, Bihar-803 116, which is being carried out by Veerayatan, Rajgir (Nalanda), Bihar-803 116, at the estimated cost of rupees one crore seventy lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 11424/F. No. NC-46/2000]