Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction of building furnishing and running of school for Medical Education and Training of Mentally Retarded Persons at Rajkot, Gujarat; by The Society for the Mentally Retarded - 248/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction of building furnishing and running of school for Medical Education and Training of Mentally Retarded Persons at Rajkot , Gujarat ; by The Society for the Mentally Retarded Notification No. 248 of 2002 Dated 10th Sept., 2002 . Whereas by notification of the Government of India in the Ministry of Finance number S.O. 676(E) dated the 11th August, 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 2, for Construction of building furnishing, equipments and running of school and training/research centres for Medical Education and Training of Mentally Retarded Persons at Rajkot, Gujarat; by The Society for the Mentally Retarded, P.D. Malviya College Campus, Gondal Road, Rajkot-360 004 (Gujarat) as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000); 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 Construction of building furnishing, equipments and running of school and training/research centres for Medical Education and Training of Mentally Retarded Persons at Rajkot, Gujarat; which is being carried out by The Society for the Mentally Retarded, P.D. Malviya College Campus, Gondal Road, Rajkot-360 004 (Gujarat) at the estimated cost of rupees one crore plus a corpus fund of Rs. fifty lakhs only, as an eligible project or scheme for a further period of three years commencing from assessment year 2002-2003. [F.No. NC-80/2002]