Exemption u/s 35AC - Central Government had specified for construction of Kala Mandir Building, Bhiloda, Sabarkantha, Gujarat by Shri Arbuda Seva Sangh as an eligible project or scheme - 321/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of Kala Mandir Building, Bhiloda, Sabarkantha, Gujarat by Shri Arbuda Seva Sangh as an eligible project or scheme Notification No : 321 Date of Issue : 27/11/2003 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O,857(E} dated the 14 th August, 2002, 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 Kala Mandir Building, Bhiloda, Sabarkantha, Gujarat, by Shri Arbuda Seva Sangh, AT P.O. Bhiloda, Taluka: Bhiloda, District Sabarkantha, Gujarat as eligible project or scheme for a period of one year beginning with assessment year 2003-2004; And whereas the said project or scheme is likely to extend beyond one year; 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 two years; Now, therefore, the Central Government, in exercise of pie 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 Kala Mandir Building, Bhiloda, Sabarkantha, Gujarat, which is being carried out by Shri Arbuda Seva Sangh, AT P.O. Bhiloda, Taluka: Bhiloda; District Sabarkantha, Gujarat, at the estimated cost of rupees twelve lakhs fourteen thousand only, as an eligible project or scheme for a further period of two years commencing from the assessment year 2004-2005. F.No.NC-240/2003