256E : Notification: S.O.256(E) Date of Issue: 27/3/1997

Notification: S.O.256(E) Date of Issue: 27/3/1997

Notification: S.O.256(E)

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

Statute: INCOME TAX

Date of Issue: 27/3/1997

Whereas by notification number S. O. 20(E), dated 6th January, 1995, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified the scheme of Karnataka Health Institute, Ghataprabha, District Belgaum, Karnataka-591 310, for the construction and running of Nursing College for imparting free education, accomodation, food and uniform to students at Ghataprabha, Belgaum, Karnataka, as an eligible project or scheme for a period of three years commencing from the assessment year 1995-96;

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 two 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 of Karnataka Health Institute, Ghataprabha, District Belgaum, Karnataka-591 310, for the construction and running of Nursing College for imparting free education, accomodation, food and uniform to students at Ghataprabha, Belgaum, Karnataka, at the estimated cost of rupees forty lakhs and eight thousand only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1998-99, i.e., 1998-99, 1999-2000.

[No. 10317/F. No. NC-16/97