Exemption u/s 35AC - Central Government had specified hostel for visually impaired college students and working women at Dadar, Mumbai by Smt. Kamla Mehta Dadar School for the Blind as an eligible project or scheme - 320/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified hostel for visually impaired college students and working women at Dadar, Mumbai by Smt. Kamla Mehta Dadar School for the Blind as an eligible project or scheme Notification No : 320 Date of Issue : 27/11/2003 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.0.850(E) dated the 21 st September, 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 11, for construction of building for hostel for visually impaired college students and working women and running of school for visually impaired girls at Dadar, Mumbai, by Smt. Kamla Mehta Dadar School for the Blind, 160, Dadasaheb Phalke Road, Mumbai-400014 as eligible project or scheme for a period of three years beginning with assessment year 2001-2002; And whereas the said project or scheme is likely to extend beyond three years; And whereas the National Committee for Promotion of Social and Economic Welfare, 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; 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 for hostel for visually impaired college students and working women and running of school for visually impaired girls at Dadar, Mumbai, which is being carried out by Smt. Kamla Mehta Dadar School for the Blind, 160, Dadasaheb Phalke Road, Mumbai-400014, at the estimated cost of rupees one crore including a corpus fund of rupees thirty 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-240/2003