10850 : Notification: 10850 Date of Issue: 1/4/1999

Notification: 10850 Date of Issue: 1/4/1999

Notification: 10850

Section(s) Referred: s. 35AC(1)(b) ,r. 11M(5)

Statute: INCOME TAX

Date of Issue: 1/4/1999

Whereas by notification number S.O. 602(E) dated 12th August, 1993 [published at (1993) 113 CTR (St) 59], 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---the expansion of two school buildings i.e., Dalmia Senior Higher Secondary School and Secondary Girls Senior Higher Secondary School at Chirawa, Jhunjhunu, of the Dalmia Shiksha Samiti, Chirawa, Jhunjhunu, as an eligible project or scheme for a period of three years beginning with assessment year 1994-95, which was extended by a period of two more years beginning with assessment year 1997-98 ;

And whereas the said project or scheme is likely to extend beyond five 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 the expansion of two school buildings i.e., Dalmia Senior Higher Secondary School and Secondary Girls Senior Higher Secondary School at Chirawa, Jhunjhunu, which was being carried out by Dalmia Shiksha Samiti, Chirawa, Jhunjhunu, at the estimated cost of rupees one crore eighteen lakhs seventy-five thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.

[F.No. NC-1/99]