Exemption u/s 35AC - Central Government had specified for Integrated Rural Development at Bharatpur (Rajasthan) and Raisen (Madhya Pradesh) by Lupin Human Welfare and Research Foundation as an eligible project or scheme - 071/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for Integrated Rural Development at Bharatpur (Rajasthan) and Raisen (Madhya Pradesh) by Lupin Human Welfare and Research Foundation as an eligible project or scheme Notification No. 71 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. 10(E) dated the 4th January, 2000 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 6, for Integrated Rural Development at Bharatpur (Rajasthan) and Raisen (Madhya Pradesh) by Lupin Human Welfare and Research Foundation, 159, CST Road, Kalina, Santacruz (E), Mumbai-400098 as an eligible project or scheme for a period of three years beginning with assessment year 2000-2001; And whereas the said project or scheme is likely to extend beyond three 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 Integrated Rural Development at Bharatpur (Rajasthan) and Raisen (Madhya Pradesh) which is being carried out by Lupin Human Wellare and Research Foundation, 159, CST Road, Kalina, Santacruz (E), Mumbai-400098, at the estimated cost of rupees five crores forty-seven lakhs thirty-five thousand only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2003-2004. [F.No. NC-166/2002]