10635 : Notification: 10635 Date of Issue: 2/7/1998

Notification: 10635 Date of Issue: 2/7/1998

Notification: 10635

Section(s) Referred: 35AC

Statute: INCOME TAX

Date of Issue: 2/7/1998

Whereas by Notification Number S.O.713(E), dated the 8th August, 1995 as amended by S.O.188(E) dated the 12th March, 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 4, (a) Sports Coaching Foundation capital nature project; (b) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of the Sports Coaching Foundation, 203, Crescent Towers, Masab Tank Hyderabad-500028 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 (a) Sports Coaching Foundation capital nature project; (b) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of the Sports Coaching Foundation, 203, Crescent Towers, Masabd Tank Hyderabad - 500028, at the estimated cost of rupees forty-two lakhs eighty-six thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.