298E : Notification: S.O.298(E) Date of Issue: 4/4/1995

Notification: S.O.298(E) Date of Issue: 4/4/1995

Notification: S.O.298(E)

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

Statute: INCOME TAX

Date of Issue: 4/4/1995

Whereas by Notification No. S.O. 228(E), dated 17th 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 at serial number 8--(a) Construction of 6 Balsadans ; (b) Maintenance of 60 orphans and destitute children ; and (c) Construction of vocational training Centre at Gutnumber, 203, Village Bhaje, Taluk Maval, District Pune, Maharashtra of Social Action for Manpower Creation, Gulmohar, 33/10, Viman Nagar, Nagar Road, Pune-411 014, as an eligible project or scheme for a period of two assessment years commencing from the assessment year 1994-95 ;

And whereas the said project or scheme is likely to extend beyond two years ;

And whereas the National Committee has, 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 clause (b) of Explanation to section 35AC of the Income-tax Act, 1961, hereby specifies--(a) Construction of 6 Balsadans ; (b) Maintenance of 60 orphans and destitute children ; and (c) Construction of vocational training Centre at Gutnumber, 203, Village Bhaje, Taluk Maval, District Pune, Maharashtra of Social Action for Manpower Creation, Gulmohar, 33/10, Viman Nagar, Nagar Road, Pune-411 014, at the estimated cost of rupees twenty-four lakhs twenty four thousand, as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1996-97.

[No. 9746/F. No. NC-4/95