Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Rural Development Projects at Thirukkurungudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamilnadu and Kembal Village of Karnataka by Srinivasan Services Trust - 314/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Rural Development Projects at Thirukkurungudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamilnadu and Kembal Village of Karnataka by Srinivasan Services Trust Notification No. 314 of 2002 Dated 24th Oct, 2002 S.O. 1116 (E) - Whereas by notification of the Government of India in the Ministry of Finance number S.O. 268(E) dated the 20th March, 2000, 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 8, for Rural Development Projects at Thirukkurungudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamilnadu and Kembal Village of Karnataka by Srinivasan Services Trust, Jayalakshmi Estates, 8, Haddows Road, Chennai 600006, as an eligible project or scheme for a period of three years beginning with assessment year 2000-2001; 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 Rural Development Projects at Thirukkurungudi, Padavedu, Erattai Thirupathi and Thirukkolur Villages of Tamilnadu and Kembal Village of Karnataka which is being carried out by Srinivasan Services Trust, Jayalakshmi Estates, 8, Haddows Road, Chennai-600006, at the estimated cost of rupees seven hundred lakhs only as an eligible project or scheme for a further period of three years commencing from assessment year 2003-2004. [F.No.NC-90/2002]