Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Construction of Dev-Sangha National School and Hostel Building at Bompass town, Deoghar Bihar by Dev-Sangha Seva Pratisthan as an eligible project or scheme - 095/2006 - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Construction of Dev-Sangha National School and Hostel Building at Bompass town, Deoghar Bihar by Dev-Sangha Seva Pratisthan as an eligible project or scheme NOTIFICATION No. 95/2006, dated 4-4-2006 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.180(E) dated the 10 th March, 1997, 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 3, for Construction of Dev-Sangha National School and Hostel Building at Bompass town, Deoghar Bihar by Dev-Sangha Seva Pratisthan, 28/2A, H.K. Sett Lane, Calcutta-700050, West Bengal, as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998 which was extended further vide notification number S.O.323(E) dated the 11 th May, 1999 for a period of three years beginning with assessment year 2000-2001 and which was extended further vide notification number S.O.524(E) dated the 9 th May, 2003 for a period of three years beginning with assessment year 2003-2004; And whereas the said project or scheme is likely to extend beyond nine 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 Construction of Dev-Sangha National School and Hostel Building at Bompass town, Deoghar Bihar which is being carried out by Dev-Sangha Seva Pratisthan, 28/2A, H.K. Sett Lane, Calcutta-700050, West Bengal, without any change in the approved estimated cost i.e. Rs.300.00 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006. [f.no. nc-270/55/200