Exemption u/s 35AC - Central Government had specified for Rural Development Projects at Thirukkurungudi, Karnataka by Srinivasan Services Trust as an eligible project or scheme - Amendment in N. No. S.O. 268(E) dated the 23rd March, 2000 - 192/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for Rural Development Projects at Thirukkurungudi, Karnataka by Srinivasan Services Trust as an eligible project or scheme - Amendment in N. No. S.O. 268(E) dated the 23rd March, 2000 Notification No. 192 of 2003, dt. 5th August, 2003 S.O. 896(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 268(E) dated the 23rd March, 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 8, for Rural Development Projects at Thirukkurungudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamjlnadu and Kembal Village of Karnataka by Srinivasan Services Trust, Jayalakshmi Estates, 8, Haddows Road, Chennai-600006 as an eligible project or scheme for a period of three years beginning with assessment year 2000-2001 and which was extended further vide notification number S.O. 1116(E) dated 24th October, 2002, for a period of three years beginning with assessment year 2003-2004; 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, the Committee recommended inclusion of 8 villages namely Kothakondapalli, Mookandapalli, Mathigiri, Belagondapalli, Bethlapalli, Padi, Vanagaram and Mappedu in the approved project; Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 36AC, of the Income-tax Act, 1961 (43 of 1961),-- (a) hereby specifies the scheme or project of Rural Development Projects at Thirukkuamgudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamilnadu and Kembal Village of Karnataka by Srinivasan Services Trust, Jayalakshmi Estates, 8, Haddows Road, Chennai-600006 as an eligible project or scheme; (b) further amends the said notification number S.O. 268(E) dated the 23rd March, 2000, to the following effect, namely: In the said notification, in the Table against serial number 8, in column (3) the Committee allowed inclusion of 8 villages namely Kohakondapalli, Mookandapalli, Mathigiri, Belagondapalli, Bethlapalli, Padi, Vangaram and Mappedu in the approved project. [F.No. NC-151/2003]