Exemption u/s 35AC - Central Government had specified for construction of school for vocational training/rehabilitation of hearing handicapped children at Adipur, Gujarat, by Mata Lachmi Rotary Charitable Society as an eligible project or scheme - 197/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of school for vocational training/rehabilitation of hearing handicapped children at Adipur, Gujarat, by Mata Lachmi Rotary Charitable Society as an eligible project or scheme Notification No. 197 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. 698(E) dated the 3rd October, 1997 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 construction of building, purchase of equipments and running of school for vocational training/rehabilitation of hearing handicapped children at Adipur, Kutch, Gujarat, by Mata Lachmi Rotary Charitable Society, Station Road, Adipur, Kutch-370205, Gujarat as an eligible project or scheme for a period of three years beginning with assessment year 1998-99 which was amended vide notification number S.O. 17(E) dated 4th January, 2000, for enhancing the cost which was extended vide notification number S.O. 121(E) dated 11th February, 2000, for a period of three years beginning with assessment year 2001-2002 and which was further amended vide notification number S.O. 913(E) dated 20th September, 2001; 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 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 building, purchase of equipments and running of school for vocational training/rehabilitation of hearing handicapped children at Adipur, Kutch, Gujarat, which is being carried out by Mata Lachmi Rotary Charitable Society, Station Road, Adipur, Kutch-370205, Gujarat at the estimated cost of rupees forty eight lakhs fifty-nine thousand (including a corpus fund of Rs. fifteen 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]