Exemption u/s 35AC - Central Govt. had specified Setting up and running of vocational training centres for computer courses and tailoring classes at 386 centres by Sterlite Foundation as an eligible project or scheme - 057/2004 - Income Tax

Exemption u/s 35AC - Central Govt. had specified Setting up and running of vocational training centres for computer courses and tailoring classes at 386 centres by Sterlite Foundation as an eligible project or scheme Notification No. 57 of 2004, dt. 23rd Feb., 2004 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 54(E) dated the 16 th January, 1998, 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 14, for Setting up and running of vocational training centres for computer courses and tailoring classes at 386 centres by Sterlite Foundation, 113, Samudra Mahal, Annie Basant Road, Worii, Mumbai as an eligible project or scheme for a period of three years beginning with assessment year 1998-99 which was extended further vide notification number S.0.635(E), dated the 5 th July, 2000 as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002 and which was amended to enhance the amount vide notification number S.0.62(E), dated 22 nd January, 2003; And whereas the said project or scheme is likely to extend beyond six years; And whereas the National Committee for Promotion pf 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 of Setting up and running of vocational training centres for computer courses and tailoring classes at 386 centres, which is being carried out by Sterlite Foundation 113, Samudra Mahal, Annie Basant Road, Worli. Mumbai at the estimated cost of rupees twenty one crore ninety three lakhs and sixty two thousand plus a corpus fund of rupees ten crores sixty three lakhs only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2004-2005. NC-333/2003