Exemption u/s 35AC - Central Government had specified for Tribal Welfare Project, Gujarat by Bharat Sevashram Sangha as an eligible project or scheme - 193/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for Tribal Welfare Project, Gujarat by Bharat Sevashram Sangha as an eligible project or scheme Notification No. 193 of 2003, dt. 5th August, 2003 S.O. 897 (E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 28(E) dated the 10th January, 2001, 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 2, for Tribal Welfare Project-construction of building for dispensary, schools, hostel, small scale industries, technical training/vocational training Institute, cultural hall, Ashram complex, residential quarters, water tank, etc. at Gangpur, District Navsari, Gujarat by Bharat Sevashram Sangha, 211, Rash Behari Avenue, Calcutta-700019 as an eligible project or scheme for a period of three years beginning with assessment year 2001-02; 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; and 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 Tribal Welfare Project-construction of building for dispensary, schools, hostel, small scale industries, technical training/vocational training Institute, cultural hall, Ashram complex, residential quarters, water tank, etc. at Gangpur, District Navsari, Gujarat which is being carried out by Bharat Sevashram Sangha, 211, Rash Behari Avenue, Calcutta-700019 at the estimated cost of rupees two crores seventy-seven lakhs only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2004-2005. [F.No. NC-151/2003]