Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Rural Development Projects at Thirukkcurungudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamilnadu and Kembal Village of Karnataka by Srinivasan Services Trust as an eligible project or scheme - 109/2006 - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Rural Development Projects at Thirukkcurungudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamilnadu and Kembal Village of Karnataka by Srinivasan Services Trust as an eligible project or scheme NOTIFICATION NO. 109/2006, DATED 4-4-2006 S.O. 509(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.268(E) dated the 23 rd March, 2000, 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 8, for Rural Development Projects at Thirukkcurungudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamilnadu and Kembal Village of Karnataka by Srinivasan Services Trust, Jayalakshmi Estates, 8, Haddows Road, Chennai as an eligible project or scheme for a period of three years beginning with assessment year 2000-2001, which was extended further vide notification number S.O.1116(E) dated the 24 th October, 2002 for a period of three years beginning with assessment year 2003-2004; And whereas by notification number S.O.896(E) dated the 5 th August, 2003 the inclusion of 8 villages, namely, Kohakondapalli, Mookandapalli, Mathigiri, Belagondapalli, Bethlapalli, Padi, Vanagaram and Mappedu in the approved project; And whereas the said project or scheme is likely to extend beyond six 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 Rural Development Projects at Thirukkurungudi, Padavedu, Erattai Thirupathi, Thirukkolur, Kembal, Kohakondapalli, Mookandapalli, Mathigiri, Belagondapalli, Bethlapalli, Padi, Vanagaram and Mappedu villages of Tamilnadu and Karnataka and which is being carried out by Srinivasan Services Trust, Jayalakshmi Estates, 8, Haddows Road, Chennai, without any change in the approved estimated cost i.e. ₹ 700.00 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006. [F.NO. NC-270/55/2006]