Exemption u/s 35AC - Central govt. had specified projects of Mahatama Gandhi Mission for Gram Swarjya by Banwasi Seva Ashram as an eligible project or scheme - 038/2005 - Income Tax

Exemption u/s 35AC - Central govt. had specified projects of Mahatama Gandhi Mission for Gram Swarjya by Banwasi Seva Ashram as an eligible project or scheme NOTIFICATION NO. 38/2005, DATED 2-2-2005 S.O. 139(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.711(E) dated the 25 th September, 1992, 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 1, the project of scheme for ( a ) Mahatama Gandhi Mission for Gram Swarjya (at an estimated cost of Rs. six crores); ( b ) Construction and Equipment of One Hundred Women and Children Centres in the tribal village in the District of Sonbhadra (UP) (at an estimated cost of Rs 1.5 crores), and ( c ) Banwasi Bhawana-Construction and Equipment of a Hostel-cum-training Centre for SC/ST and other poor students (at an estimated cost of Rs. 1.5 crores), by Banwasi Seva Ashram, Govindpur (Via Turra), Sonbhadra, UP, at the estimated cost of rupees nine crores only, as an eligible project or scheme for a period of three years beginning with assessment year 1993-1994 which was extended further vide notification number S.O. 841(E) dated the 22 nd November, 1994 for a period of three years beginning with assessment year 1996-1997 which was extended further vide notification number S.O.58(E) dated the 16 th January, 1998 for a period of three years beginning with assessment year 1999-2000 and which was extended further vide notification number S.O.865(E) dated the 14 th August, 2002 for a period of three years beginning with assessment year 2002-2003; And whereas the said project or scheme is likely to extend beyond twelve 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 ( a ) Mahatama Gandhi Mission for Grem Swarjya (at an estimated cost of Rs. six crores); ( b ) Construction and Equipment of One Hundred Women and Children Centres in the tribal village in the District of Sonbhadra (UP) (at an estimated cost of Rs 1.5 crores); ( c ) Banwasi Bhawana-Construction and Equipment of a Hostel-cum-training Centre for SC/ST and other poor students (at an estimated cost of Rs. 1.5 crores), which is being carried out by Banwasi Seva Ashram, Govindpur (Via Turra), Sonbhadra, UP, without change in the approved cost as an eligible project or scheme for a further period of three years commencing from the financial year 2004-2005. [F. No. NC-270/408/2004]