1052E- : Notification: S.0.1052(E) Date of Issue: 18/10/2001

Notification: S.0.1052(E) Date of Issue: 18/10/2001

Notification: S.0.1052(E)

Section(s) Referred: s. 35AC

Statute: INCOME TAX

Date of Issue: 18/10/2001

Notification No. S.O. 1052(E), dated 18th October, 2001.

Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 832(E), dated the 18th September, 1998, issued under 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 purchase of equipments/vehicles and running of Ekal Vidyalaya Project in Backward and Vanwasi areas of Bharuch and Surat Districts of South Gujarat, by Bhartiya Jan Seva Sansthan, 11, Mahalakshmi Society, Ahmedabad-380 007, as an eligible project or scheme for a period of three years beginning with the assessment year 1999-2000;

And whereas the said project or scheme is likely to extend beyond three years;

And whereas the National Committee has, 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 and amending the project cost from Rs. 35.12 lakhs to Rs. 183.35 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 purchase of equipments/ vehicles and running of Ekal Vidyalaya Project in Backward and Vanwasi areas of Bharuch and Surat Districts of South Gujarat, which is being carried out by Bhartiya Jan Seva Sansthan, 11, Mahalakshmi Society, Ahmedabad-380 007, as an eligible project or scheme for a further period of three years beginning with the assessment year 2002-2003; and

(b) further amends the said Notification No. S.O. 832(E), dated 18th September, 1998, to the following effect, namely:--

In the said notification, in the Table against serial number 1, in column (4) relating to maximum cost for which allowed, for the letters, figures and word "Rs. 35.12 lakhs", the letters, figures and word "Rs. 183.35 lakhs" shall be substituted.

[No. 333-2001/F.No. N.C-100/2001]