367(E) : Notification: 367(E) Date of Issue: 10/4/2000

Notification: 367(E) Date of Issue: 10/4/2000

Notification: 367(E)

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

Statute: INCOME TAX

Date of Issue: 10/4/2000

Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 388(E), dated 19th May, 1997, issued under 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, running of multifarious rural welfare projects in health care education, sports and cultural activities and construction of hospital building, equipments and furnishing and management of natural resources in Madhya Pradesh, Gujarat and Maharashtra, by Shri Sadguru Seva Sangh Trust, Mafatlal House, Backbay Reclamation, Mumbai-400 020, as an eligible project or scheme for a period of three years beginning with the assessment year 1998-99.

And whereas by Notification No. S. O. 221(E), dated 16th March, 1998, the estimated cost was enhanced from Rs. 1,225 lakhs to Rs. 1,333 lakhs.

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 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 running of multifarious rural welfare projects in health care education, sports and cultural activities and construction of hospital building, equipments and furnishing and management of natural resources in Madhya Pradesh, Gujarat and Maharashtra, which is being carried out by Shri Sadguru Seva Sangh Trust, Mafatlal House, Backbay Reclamation, Mumbai-400 020, at the estimated cost of rupees thirteen crore thirty-three lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002.

[No. 11328/F. No. NC-14/2000]