11127 : Notification: 11127 Date of Issue: 18/11/1999

Notification: 11127 Date of Issue: 18/11/1999

Notification: 11127

Section(s) Referred: s. 35AC(1)(b)

Statute: INCOME TAX

Date of Issue: 18/11/1999

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), the Central Government, on the recommendations of the National Committee hereby approves the companies specified in column (2) of the Table below and specifies the eligible project or scheme and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as deduction under said section 35AC.

TABLE ------ S. Name of the company Project or scheme and Maximum amount of cost No. estimated cost thereof to be allowed as deduction under section 35AC ----- 1. Indian Potash Limited, Project for environment Rs. 105 lakhs 3rd Floor, Pragati Tower, improvement in rainfed 28, Rajendra Place, New areas of Chindwara Delhi - 110009. District, Madhya Pradesh and Amrawati, Maharashtra, likely to cost Rs. 1460 lakhs.

2. Tata Sponge Iron Ltd., Construction of road, Rs. 40 lakhs P. O. Joda, Distt. bridge, promotion of Keonjhar, Orissa. medical facilities. agricultural and education and providing of drinking water by digging tubewells at villages in Keonjhar, Orissa; likely to cost Rs. 40 lakhs. -----

2. This notification shall remain in force for a period of three years in relation to assessment years 2000-2001, 2001-2002 and 2002-2003 in respect of projects mentioned in the Table.

[F. No. NC-93/99]