Exemption u/s 35AC - Central Government had specified for the construction of buildings under Phase-II Programme on nine institutions under Sai Baba Seva Dham by Radha Kaliandas Daryanani Charitable Trust, Bombay, as an eligible project or scheme - 11504 - Income Tax

Exemption u/s 35AC - Central Government had specified for the construction of buildings under Phase-II Programme on nine institutions under Sai Baba Seva Dham by Radha Kaliandas Daryanani Charitable Trust, Bombay, as an eligible project or scheme NOTIFICATION NO. 11504 DATED 21-9-2000 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 116(E), dated the 23rd February, 1995 [published at (1995) 124 CTR (St) 5], 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 13 the construction of buildings under Phase-II Programme and maintenance and administrative expenditure on nine institutions under Sai Baba Seva Dham for co-ordinating successful implementation of Rural Development Programme at village Kanhe, Taluka Maval (Bombay-Pune Road), by Radha Kaliandas Daryanani Charitable Trust, 521, Commerce House, 140, Nagindas Master Road, Fort Bombay, as an eligible project or scheme for a period of three years beginning with assessment year 1995-96 which was extended further vide notification number S.O. 396(E), dated 19th May, 1997 [published at (1997) 140 CTR (St) 91 for a period of three years beginning with assessment year 1998-99 and also restricting the project only for maintenance of nine Institutions; 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 subrule (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 maintenance and administrative expenditure on nine institutions under Sai Baba Seva Dham for coordinating successful implementation of Rural Development Programme at village Kanhe, Taluka Maval (Bombay-Pune Road), which is being carried out by Radha Kaliandas Daryanani Charitable Trust, 521, Commerce House, 140, Nagindas Master Road, Fort Bombay, at the estimated cost of rupees ninety nine lakhs 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]