Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Equipment, furnishing and running of special education centres for spastic children at urban centres of SPASTN in Tamilnadu, by The Spastic Society of Tamil Nadu - 245/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Equipment, furnishing and running of special education centres for spastic children at urban centres of SPASTN in Tamilnadu, by The Spastic Society of Tamil Nadu Notification No. 245 of 2002, dt. 10th Sept., 2002 . Whereas by notification of the Government of India in the Ministry of Finance number S.O. 388(E) dated the 19th May, 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 15, for Equipment, furnishing and running of special education centres for spastic children at urban centres of SPASTN in Tamilnadu, by The Spastic Society of Tamil Nadu, Centre for Special Education, Opposite T.T.T.I., Taramani Road, Chennai as an eligible project or scheme for a period of two years beginning with assessment year 1998-99; which was extended vide notification number S.O. 1146(E) dated 18th November, 1999, for a further period of three years beginning with assessment year 2000-2001; And whereas, the said project or scheme is likely to extend beyond five years; And whereas the National Committee, being satisfied that the 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. 65.67 lakhs to Rs. 126.52 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 Equipment, furnishing and running of special education centres for spastic children at urban centres of SPASTN in Tamilnadu which is being carried out by The Spastic Society of Tamil Nadu, Centre for Special Education, Opposite T.T.T.I., Taramani Road, Chennai as an eligible project or scheme for a further period of three years beginning with assessment year 2003-2004; and (b) further amends the said notification number S.O. 388(E) dated the 19th May, 1997, to the following effect, namely: In the said notification, in the Table against serial number 15, in column (4) relating to maximum amount of estimated cost to be allowed, for the letters, figures and word "Rs. 65.67 lakhs", the letters, figures and word "Rs. 126.52 lakhs" shall be substituted. [F.No. NC-80/2002]