405E : Notification: S. O. 405(E) Date of Issue: 15/5/1998

Notification: S. O. 405(E) Date of Issue: 15/5/1998

Notification: S. O. 405(E)

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

Statute: INCOME TAX

Date of Issue: 15/5/1998

Whereas by Notification Number S. O. 187(E), dated 12th March, 1997, 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 3, construction, equipments and furnishing a building for Degree College at Ghumarwin, District Bilaspur, Himachal Pradesh of the Associated Cement Companies Limited, Cement House, 121, Maharishi Karve Road, Mumbai-400 020 as an eligible project or scheme for a period of two years beginning with the assessment year 1997-98;

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 one year and enhancing the approved cost to rupees six hundred one lakhs twenty three thousand only;

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 construction, equipments and furnishing a building for Degree College at Ghumarwin, District Bilaspur, Himachal Pradesh of the Associated Cement Companies Limited, Cement House, 121, Maharishi Karve Road, Mumbai-400 020, at the estimated cost of rupees six hundred one lakh twenty-three thousand only for a further period of one year, i.e., assessment year 1999-2000 and enhancing the approved cost to rupees six hundred one lakh twenty-three thousand only.

[No. 10589/F. No. NC 29/98]