Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Rural Development Projects at Nawalgarh Block of Jhunjhunu District and Shekhawati Region Comprising Jhunjhunu, Sikar and Churu Districts of Rajasthan, by M.R. Morarka-GDC Rural Research Foundation - 317/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Rural Development Projects at Nawalgarh Block of Jhunjhunu District and Shekhawati Region Comprising Jhunjhunu, Sikar and Churu Districts of Rajasthan, by M.R. Morarka-GDC Rural Research Foundation Notification No. 317 of 2002 Dated 24th Oct., 2002 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 698(E) dated the 3rd October, 1997, 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 6, for Rural Development Projects at Nawalgarh Block of Jhunjhunu District and Shekhawati Region Comprising Jhunjhunu, Sikar and Churu Districts of Rajasthan, by M.R. Morarka-GDC Rural Research Foundation, Chartered Bank Buildings, IInd Floor, M.G. Road, Fort, Mumbai-400001, as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999; 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 and amending the project cost from Rs. 207.65 lakhs to Rs. 329.74 lakhs (including a corpus fund of Rs. 200.00 lakhs). 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), (a) hereby specifies the scheme or project of Rural Development Projects at Nawalgarh Block of Jhunjhunu District and Shekhawati Region Comprising Jhunjhunu, Sikar and Churu Districts of Rajasthan, which is being carried out by M.R. Morarka-GDC Rural Research Foundation, Chartered Bank Buildings, End Floor, M.G. Road, Fort, Mumbai-400001, as an eligible project or scheme for a further period of three years beginning with assessment year 2001-2002; and (b) further amends the said notification number S.O. 698 (E) dated the 3rd Oct., 1997 to the following effect, namely : In the said notification, in the Table against serial number 6, in column (4) relating to maximum amount of cost to be allowed, for the letters, figures and word "Rs. 207.65 lakhs", the letters, figures and word "Rs. 329.74 lakhs" (including a corpus fund of Rs. 200.00 lakhs) shall be substituted. F.No. NC-90/2002]