Exemption u/s 35AC - Central Govt. had spectified for Construction of building, Purchase of equipments, Books, furniture/fixtures, Vehicles and running of Light and Life Academy, Ooty (Social Welfare and Environment Awareness Project), by Iqbal Mohamed Trust as an eligible project or scheme - 033/2005 - Income Tax

Exemption u/s 35AC - Central Govt. had spectified for Construction of building, Purchase of equipments, Books, furniture/fixtures, Vehicles and running of Light and Life Academy, Ooty (Social Welfare and Environment Awareness Project), by Iqbal Mohamed Trust as an eligible project or scheme NOTIFICATION NO. 33/2005, DATED 2-2-2005 S.O. 134(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 312(E) dated the 18 th March, 2002, issued under clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified the project of scheme for Construction of building, Purchase of equipments, Books, furniture/fixtures, Vehicles and running of Light and Life Academy, Ooty (Social Welfare and Environment Awareness Project), by Iqbal Mohamed Trust, Gandhipet, Kolimalai Road, Lovedale Ooty-643003 at the estimated cost of rupees two hundred lakhs only as an eligible project or scheme for a period of two years beginning with assessment year 2002-2003; And whereas the said project or scheme is likely to extend beyond two 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) rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of two 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 building, Purchase of equipments, Books, furniture/fixtures, Vehicles and running of Light and Life Academy, Ooty (Social Welfare and Environment Awareness Project), which is being carried out by Iqbal Mohamed Trust, Gandhipet, Kolimalai Road, Lovedale Ooty-643003, without change in the approved cost as an eligible project or scheme for a further period of two years commencing from the financial year 2003-2004. [F. No. NC-270/4O8/20O4]