Exemption u/s 35AC - The Central Government had specified for Construction of Saraswati Vidya Mandir by Shri Hari Vanvasi Vikas Samiti as an eligible project or scheme - 061/2003 - Income Tax

Exemption u/s 35AC - The Central Government had specified for Construction of Saraswati Vidya Mandir by Shri Hari Vanvasi Vikas Samiti as an eligible project or scheme Notification No. 61 of 2003, dt. 31st March, 2003 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 402(E) dated the 3rd May, 1995 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 3, for Construction of Saraswati Vidya Mandir, a residential High School for the tribals, harijans and economically backward classes with vocational training centre at village Navadoha, P.O. Nayadhi, P.S. Ghanghra (Dist. Guhila), Bihar by Shri Hari Vanvasi Vikas Samiti, Kalyan Ashram, Near Bangla School Gali, Ranchi-834001, as an eligible project or scheme for a period of three years beginning with assessment year 1996-1997 which was extended further vide notification number S.O. 314(E) dated 11th May, 1999 for a period of three years beginning with assessment year 1999-2030; And whereas the said project or scheme is likely to extend beyond six years; And whereas the National Committee, 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 Construction of Saraswati Vidya Mandir, a residential High School for the tribals, harijans and economically backward classes with vocational training centre at village Navadoha, P.O. Nayadhi, P.S. Ghanghra (Dist. Guhila), Bihar which is being carried out by Shri Hari Vanvasi Vikas Samiti, Kalyan Ashram, Near Bangla School Gali, Ranchi-834001, at the estimated cost of rupees ninety-three lakhs ninty-eight thousand only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2002-2003. [F.No. NC-166/2002]