Exemption u/s 35AC - Central Government had specified for the construction, equipments, furnishing and running of vocational training centre by The Bombay Young Men's Christian Association, Bombay, as an eligible project or scheme - 11493 - Income Tax

Exemption u/s 35AC - Central Government had specified for the construction, equipments, furnishing and running of vocational training centre by The Bombay Young Men's Christian Association, Bombay , as an eligible project or scheme NOTIFICATION NO. 11493 DATED 21-9-2000 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 791(E) dated the 18th September, 1995 [published at (1995) 128 CTR (St) 8], 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 7, the construction, equipments, furnishing and running of vocational training centre at Andheri, Bombay, by The Bombay Young Men's Christian Association, Y.M.C.A. Road, Bombay Central, Bombay-400008, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97, which was extended further vide notification number S.O. 255(E), dated the 27th March, 1997, [published at (1997) 139 CTR (St) 7] for a period of three years beginning with assessment year 1998-99; And whereas the said project or scheme is likely to extend beyond six 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, equipments, furnishing and running of vocational training centre at Andheri, Mumbai, which is being carried out by The Bombay Young Men's Christian Association, Y.M.C.A. Road, Bombay Central, Bombay-400008, at the estimated cost of rupees forty two lakhs seventy three thousand only, as an eligible project or scheme for a further period of three years beginning with assessment year 2001-2002. [F. No. NC-73/2000]