Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified various institutions - 057/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified various institutions NOTIFICATION No.57 Dated 18th March,2002 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), the. Central Government on the recommendations of the National Committee, hereby approves the institution mentioned in column (1) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (2) of the said Table and also specifies in the column (3) of the said Table, the maximum amount of such cost which may be allowed as deduction under the said section 35AC, namely:- TABLE Name of the Institution Project or scheme and estimated cost thereof deduction under section 35AC Maximum amount of cost to be allowed as (l) (2) (3) Iqbal Mohamed Trust, Gandhipet, Kolimalai Road, Lovedale Ooty-643003 Construction of building, purchase of equipments, Books, furniture/fixtures, Vehicles and running of Light and Life Academy, Ooty (Social Welfare and Environment Awareness Project) likely to cost ₹ 200.00 lakhs. ₹ 200.00 lakhs 2. This notification shall remain in force for a period of two years in relation to assessment year 2002-2003 and 2003-2004 in respect of project or scheme mentioned in the Table. sd/- (G.C.Srivastava) Secy. (NC) F.No. NC 139/2001