Exemption u/s 35AC - Central Government had specified for Construction of building for School, Vocational Training Centre and a hostel for mentally retarded children at Lucknow by Uttar Pradesh Parents Association as an eligible project or scheme - 145/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for Construction of building for School, Vocational Training Centre and a hostel for mentally retarded children at Lucknow by Uttar Pradesh Parents Association as an eligible project or scheme Notification No. 145 of 2003, dt. 13th June, 2003 . Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1002(E) dated the 8th November, 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 5, for Construction of building for School, Vocational Training Centre and a hostel for mentally retarded children at Lucknow by Uttar Pradesh Parents Association for the Welfare of Mentally Handicapped Citizens, B-1/42, Sector K, Aliganj, Lucknow-48 as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002; 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 Construction of building for School, Vocational Training Centre and a hostel for mentally retarded children at Lucknow which is being carried out by Uttar Pradesh Parents Association for the Welfare of Mentally Handicaped Citizens, B-1/42, Sector K, Aliganj, Lucknow-48, at the estimated cost of rupees eighteen lakhs thirteen thousand only, as an eligible project or scheme for a further period of two years commencing from the assessment year 2004-2005. [F.No. NC-81/2003]