Exemption u/s 35AC - Central Government had specified regarding Repair and construction of building, purchase of equipments at Thava, Taluka; Valia, Bharauch District of Gujarat by Gram Nirman Kelvani Mandal-Thava as an eligible project or scheme - 230/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified regarding Repair and construction of building, purchase of equipments at Thava, Taluka; Valia, Bharauch District of Gujarat by Gram Nirman Kelvani Mandal-Thava as an eligible project or scheme Income Tax Notification No. 230/2003 Dated 29 th September, 2003 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.0.549 (E) dated the 2 nd July, 1998, 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 Repair and construction of building, purchase of equipments at Thava, Taluka; Valia, Bharauch District of Gujarat by Gram Nirman Kelvani Mandal-Thava, Post: Thava, Valia, District - Bharuch, Gujarat as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000; And whereas the said project or scheme is likely to extend beyond three 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; 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 Repair and. construction of building, purchase of equipments at Thava, Taluka: Valia, Bharauch District of Gujarat which is being carried out by Gram Nirman Kelvani Mandal-Thava, Post: Thava, Valia, District - Bharuch, Gujarat at the estimated cost of rupees two crores fifty lakhs only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2002-2003. Sd/- (A.J. Majumdar) Secretary (National Committee) F. No. NC-189/2003