Exemption u/s 35AC - Central Government had specified regarding Purchase of equipments, furnishing, running and construction of building for ShriRangNavchetanMahilaCollege at Valia, of Gujarat by Shri Navchetan Education Society-Valia as an eligible project or scheme - 235/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified regarding Purchase of equipments, furnishing, running and construction of building for ShriRangNavchetanMahilaCollege at Valia, of Gujarat by Shri Navchetan Education Society-Valia as an eligible project or scheme Income Tax Notification No. 235/2003 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 4, for Purchase of equipments, furnishing, running and construction of building for Shri Rang Navchetan Mahila College at Valia, District Bharuch of Gujarat by Shri Navchetan Education Society-Valia, Valia, Bharuch, Gujarat-393135, 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 Purchase of equipments, furnishing, running and construction of building for Shri Rang Navchetan Mahila College at Valia, District Bharuch of Gujarat, which is being carried out by Shri Navchetan Education Society-Valia, Valia, Bharuch, Gujarat-393135 at the estimated cost of rupees three crores fifty lakhs plus a corpus fund of rupees one crore 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