Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Promotion of watershed development in Konkan region and integrated development of villages in Panvel at Maharashtra, by Yusuf Meharally Centre - 260/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Promotion of watershed development in Konkan region and integrated development of villages in Panvel at Maharashtra, by Yusuf Meharally Centre Notification No. 260 of 2002 Dated 10th Sept. 2002 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 602(E) dated the 12th August, 1993, 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 Promotion of watershed development in Konkan region and integrated development of villages in Panvel of Pen talukas of District Raigad, Maharashtra, by Yusuf Meharally Centre, National House, 6, Tulloch Road, Appollo Bunder, Bombay-400 039 as an eligible project or scheme for a period of three years beginning with assessment year 1994-95 which was extended further vide notification number S.O. 415(E) dated 7th June, 1996, for a period of three years beginning with assessment year 1997-1998 and which was extended further vide Notification No S.O. 505(E) dated 26th May, 2000 for a period of three years beginning with assessment year 2000-2001; And whereas the said project or scheme is likely to extend beyond nine 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, Promotion of watershed development in Konkan region and integrated development of villages in Panvel of Pen talukas of District Raigad, Maharashtra, which is being carried out by Yusuf Meharally Centre, National House, 6, Tulloch Road, Appollo Bunder, Bombay--400 039, Maharashtra, at the estimated cost of rupees three crore twenty-two lakhs fifty thousand only an eligible project or scheme for a further period of three years beginning with assessment year 2003-2004, F.No. NC-80/2002]