Exemption u/s 35AC - Central Government had specified regarding Construction of buildings for Braille Press by Blind Persons' Association as an eligible project or scheme - 237/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified regarding Construction of buildings for Braille Press by Blind Persons' Association as an eligible project or scheme Notification No. 237/2003 Dated 29 th September. 2003 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.0.54(E) dated the 16 th January, 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 5, for Construction of buildings for Braille Press, library, blind school, auditorium, dormitory, purchase of Braille Press and running of Braille Press Complex at Vidyapalli, Malanda, Mahinagar, South-24 Parganas, by Blind Persons' Association, 10/2, Shamsul Huda Road, Calcutta, as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999 and which was extended further vide notification number S.0.500(E) dated the 26th May, 2000 for a period of three years beginning with assessment year 2001 -2002; And whereas the said project or scheme is likely to extend beyond six 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 nf 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 for Construction of buildings for Braille Press, library, blind school, auditorium, dormitory, purchase of Braille Press and running of Braille Press Complex at Vidyapalli, Malanda, Mahinagar, South-24 Parganas, which is being carried out by Blind Persons' Association, 10/2, Shamsul Huda Road, Calcutta at the estimated cost of rupees one crore eighty-seven lakhs fifty thousand only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2004-2005. Sd/- (A.J. Majumdar) Secretary (National Committee) F. No. NC-189/2003