Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for purchase of land, construction of Building for school, Establishment of one Military school by Netaji Azad Hind Fauj Smarak Nyas - 109/2007 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for purchase of land, construction of Building for school, Establishment of one Military school by Netaji Azad Hind Fauj Smarak Nyas NOTIFICATION NO. 109/2007, DATED 29-3-2007 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.19(E), dated the 7 th January, 2004, issued under sub-section (1) read with 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 10, for purchase of land, construction of Building for school, hostel, purchase of furniture/fixture books utensils etc. Establishment of one Military school and 20 cluster level coordination centers and running of the project by Netaji Azad Hind Fauj Smarak Nyas, 10196, Mata Mandir Gali, Jhandewalan, New Delhi - 110055, as an eligible project or scheme for a period of three years beginning with assessment year 2004-05; AND WHEREAS the said project or scheme is likely to extend beyond three years; AND WHEREAS the National Committee for Promotion of Social and Economic Welfare, 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 for purchase of land, construction of Building for school, hostel, purchase of furniture/fixture books utensils etc. Establishment of one Military school and 20 cluster level coordination centers and running of the project which is being carried out by Netaji Azad Hind Fauj Smarak Nyas, 10196, Mata Mandir Gali, Jhandewalan, New Delhi 110055, without any change in the approved cost of Rs. 35.00 crores including a corpus fund of Rs. 17.00 crores, as an eligible project or scheme for a further period of three years commencing from the financial year 2006-07 [F.No.NC-274/3/2007]