10634 : Notification: 10634 Date of Issue: 2/7/1998

Notification: 10634 Date of Issue: 2/7/1998

Notification: 10634

Section(s) Referred: 35AC

Statute: INCOME TAX

Date of Issue: 2/7/1998

Whereas by notification number S.O.973(E) dated the 14th December, 1995 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 3, Construction, furnishing and equipments of school building at Govindpuri, Kalkaji Extension, Delhi of Deepalaya, G.No. 12, Shivaji Enclave, New Delhi - 110027 as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;

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, furnishing and equipments of school building at Govindpuri, Kalkaji Extension, Delhi of Deepalaya, G.No. 12, Shivaji Enclave, New Delhi - 110027, at the estimated cost of rupees one hundred eighty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.