Exemption u/s 35AC - Central Government had specified for Construction of Eye Care Centre in Jodhpur District of Rajasthan, by Smt. Tarabai Desai Charitable Opthalmic Trust as an eligible project or scheme - 196/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for Construction of Eye Care Centre in Jodhpur District of Rajasthan, by Smt. Tarabai Desai Charitable Opthalmic Trust as an eligible project or scheme Notification No. 196 of 2003, dt. 5th August, 2003 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 887(E) dated the 22nd November, 1993 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 1, for Construction of Eye Care Centre in Jodhpur District of Rajasthan, by Smt. Tarabai Desai Charitable Opthalmic Trust, E-22, Shastri Nagar, Jodhpur, Rajasthan, as an eligible project or scheme for a period of two years beginning with assessment year 1994-95 which was extended further vide notification number S.O. 725(E) dated 17th August, 1995, for a period of three years beginning with assessment year 1996-97 and which was extended further vide notification number S.O. 15(E) dated 4th January, 2000, for a period of three years beginning with assessment year 2000-2001; And, whereas, the said project or scheme is likely to extend beyond eight 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 construction of Eye Care Centre in Jodhpur district of Rajasthan, which is being carried out by Smt. Tarabai Desai Charitable Opthalmic Trust, E-22 Shastri Nagar, Jodhpur, Rajasthan, at the estimated cost of rupees one crore eight lakhs thirty-two 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-151/2003]