Exemption u/s 35AC - Central Government had specified for Construction of school and dispensary buildings, and integrated development of the poor and marginalised especially the women and children in Trikkadavoor, by Shri G.J. Fernandez, Bangalore, as an eligible project or scheme - 235/2005 - Income Tax

Exemption u/s 35AC - Central Government had specified for Construction of school and dispensary buildings and integrated development of the poor and marginalised especially the women and children in Trikkadavoor, by Shri G.J. Fernandez, Bangalore, as an eligible project or scheme NOTIFICATION NO. 235/2005, DATED 14-11-2005 S. O. 1597(E). : Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.1237(E), dated the 28th October, 2003, 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 1, for Construction of school and dispensary buildings, purchase of furniture, equipments and integrated development of the poor and marginalised especially the women and children in Trikkadavoor, by Shri G.J. Fernandez, Chooravilla Joseph Development Foundation, No. 54, Rest House Apartment, Rest House Road, Bangalore-560001, as an eligible project or scheme for a period of three years beginning with assessment year 2004-2005; 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 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 school and dispensary buildings, purchase of furniture, equipments and integrated development of the poor and marginalised especially the women and children in Trikkadavoor which is being carried out by Shri G.J. Fernandez, Chooravilla Joseph Development Foundation, No. 54, Rest House Apartment, Rest House Road, Bangalore-560001, without any change in the approved cost Rs. 605.23 lakhs including a corpus fund of Rs. 320 lakhs, as an eligible project or scheme for a further period of two years commencing from the financial year 2006-2007. [F. No. NC-270/269/2005]