Exemption u/s 35AC - Central Government had specified for Construction of buildings, purchase of books, furnishing and running of Valley for the Disabled Project at Ayikudi, Tamil Nadu by Amar Seva Sangam, as an eligible project or scheme - 246/2005 - Income Tax

Exemption u/s 35AC - Central Government had specified for Construction of buildings, purchase of books, furnishing and running of Valley for the Disabled Project at Ayikudi, Tamil Nadu by Amar Seva Sangam, as an eligible project or scheme NOTIFICATION NO. 246/2005, DATED 14-11-2005 S.O.1608(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 212(E), dated the 1st April, 1999, 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 2, for Construction of buildings, purchase of books, vehicles, equipments, furnishing and running of Valley for the Disabled Project at Ayikudi, Shencottah Taluk, Tirunelveli District of Tamil Nadu by Amar Seva Sangam, Post Box No. l, Sulochana Gardens, 7-4-104B, Tenkasi Road, Ayikudi-627852, Tamil Nadu as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000 and which was extended further vide notification number S.O. 572(E), dated the 20th June, 2001 for a period of three years beginning with assessment year 2002-03; 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 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 buildings, purchase of books, vehicles, equipments, furnishing and running of Valley for the Disabled Project at Ayikudi, Shencottah Taluk, Tirunelveli District of Tamil Nadu, which is being carried out by Amar Seva Sangam, Post Box No. l, Sulochana Gardens, 7-4-104B, Tenkasi Road, Ayikudi- 627852 Tamilnadu, without any change in the approved cost i.e. Rs. 500.31 lakhs, as an eligible project or scheme for a further period of two years commencing from the financial year 2005-06. [F. No. NC-270/269/2005]