Exemption u/s 35AC - Central Government had specified for Midday Meal Scheme in three schools of Bangalore, by Maria Seva Sangha as an eligible project or scheme - 151/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for Midday Meal Scheme in three schools of Bangalore, by Maria Seva Sangha as an eligible project or scheme Notification No. 151 of 2003, dt. 13th June, 2003 . S.O.688(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 469(E) dated the 2nd July, 1996 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 4, for Midday Meal Scheme in three schools of Bangalore, by Maria Seva Sangha, villa Maria, No. 12 Rest House road, Bangalore-560001, as an eligible project or scheme for a period of three years beginning with assessment year 1997-98 which was extended further vide notification number S.O. 317(E) dated 11th May, 1999 for a period of two years beginning with assessment year 2000-2001 and which was extended further vide notification number S.O. 552(E) dated 20th June, 2001 for a period of two years beginning with assessment year 2002-2003; And, whereas, the said project or scheme is likely to extend beyond seven 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 one year; 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 Mid-day Meal Scheme in three schools of Bangalore, which is being carried out by Maria Seva Sangha, villa Maria, No. 12 Rest House road, Bangalore-560001, at the estimated cost of rupees fifteen lakhs only, as an eligible project or scheme for a further period of one year commencing from the assessment year 2004-2005. [F.No.NC-81/2003]