207E : Notification: S.O.207(E) Date of Issue: 17/3/1997

Notification: S.O.207(E) Date of Issue: 17/3/1997

Notification: S.O.207(E)

Section(s) Referred: 35AC ,35AC(b)

Statute: INCOME TAX

Date of Issue: 17/3/1997

Whereas by notification number S. O. 267(E), dated 29th March, 1994, issued under clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified the scheme at serial number 10, the Rural Development Project named as Palli Unnayan Prakalpa comprising,--(a) construction of a primary school building on land provided by the Ramakrishna Mission; (b) providing drinking water through sinking tube wells; and (c) construction of 2000 ft. Kachha link road from village Raghu Sardar Barh, Jalpai to main road, of Ramakrishna Mission Sevashram, Village Athligari, P. O. Contai, District Midnapore, West Bengal-721 401 as an eligible project or scheme for a period of three years commencing from the assessment year 1994-95 and further extended for two years by S. O. 234(E), dated 21st March, 1996;

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 one year and enhancing the estimated cost of the project from rupees two lakh twenty thousand to rupees three lakhs fifty thousand;

Now, therefore, the Central Government, in exercise of the powers conferred by clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the project or scheme of the Rural Development Project named as Palli Unnayan Prakalpa comprising,--(a) construction of a primary school building on land provided by the Ramakrishna Mission; (b) providing drinking water through sinking tube wells; and (c) construction of 2000 ft. Kachha link road from village Raghu Sardar Barh, Jalpai to main road, of Ramakrishna Mission Sevashram, Village Athligari, P. O. Contai, District Midnapore, West Bengal-721 401, at the estimated cost of rupees three lakhs fifty thousands only as an eligible project or scheme for a further period of one assessment year i.e., assessment year 1999-2000.

[No. 10293/F. No. NC-15/97