Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction and running of a school for economically weaker sections of the society and rural poor and a sports centre at Agra, by Lalaram Gupta Charitable Trust - 253/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction and running of a school for economically weaker sections of the society and rural poor and a sports centre at Agra, by Lalaram Gupta Charitable Trust Notification No, 253 of 2002 Dated 10th Sept., 2002 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 413(E) dated the 7th June, 1996, 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 1, for 1 [ Construction and running of Sports Centre at Agra ] , by Lalaram Gupta Charitable Trust, 4341, Vijay Nagar Colony, Agra 282 004 as an eligible project or scheme for a period of three years beginning with assessment year 1997-98, which was extended further vide notification number S.O. 415(E) dated 26th April, 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 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 of two 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 1 [ Construction and running of Sports Centre at Agra ] , which is being carried out by Lalaram Gupta Charitable Trust, 4341, Vijay Nagai Colony, Agra-282 004, at the estimated cost of rupees one crore fifty-five lakhs only as an eligible project or scheme for a further period of two years commencing from assessment year 2003-2004. [F. No. NC-80/2002] ******** Notes 1. Corrected vide Notification No. 39 of 2003 dt. 26-02-2003 before it was read as Construction and running of a school for economically weaker sections of the society and rural poor and a sports centre at Agra