211E : Notification: S.O. 211(E) Date of Issue: 16/3/1998

Notification: S.O. 211(E) Date of Issue: 16/3/1998

Notification: S.O. 211(E)

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

Statute: INCOME TAX

Date of Issue: 16/3/1998

Whereas by Notification No. S. O. 791(E) dated 18th September, 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 10, the construction of multi-purpose Gymnasium hall and other sports facilities, for holding sports meets at Narayangaon, Tal, Junnar, District Pune, Maharashtra of Gramonnati Mandal, Narayangaon---410505, as an eligible project or scheme for a period of two years beginning with the assessment year 1996-97 ;

And whereas the said project or scheme is likely to extend beyond two 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 construction of multi-purpose gymnasium hall and other sports facilities for holding sports meets at Narayangaon, Tal, Junnar, District Pune, Maharashtra of Gramonnati Mandal, Narayangaon----410505, at the estimated cost of rupees forty lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-99.

[No. 10549/F. No. NC-9/98]