538E- : Notification: S.O.538(E) Date of Issue: 20/6/2001

Notification: S.O.538(E) Date of Issue: 20/6/2001

Notification: S.O.538(E)

Section(s) Referred: s. 35AC

Statute: INCOME TAX

Date of Issue: 20/6/2001

Notification No. S.O. 538(E), dated 20th June, 2001.

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), the Central Government, on the recommendations of the National Committee hereby approves the institution mentioned in column (2) of the table below and specifies the eligible project or scheme and the estimated cost thereof as mentioned in column (3) of the said table and also specifies in the column (4) of the s aid table, the maximum amount of such cost which may be allowed as deduction under the said section 35AC, namely:--

Serial No. Name of the Institution Project or scheme and estimated cost thereof Maximum amount of cost to be allowed as deduction under section 35AC

1 2 3 4

Sihor Education Founda tion, C/o. N.M. Bhuta College of Commerce and Management, Sihor District, Bhavnagar-364240 Construction of building

for college, auditorium

hostel for students, staff

quarters and principal's

bungalow, purchase of

fixtures, equipments/

furnishing and running of

college of commerce and

management likely to

cost Rs. 487.85

lakhs including a corpus

fund of Rs. 145 lakhs Rs. 480.62 lakhs including a corpus fund of Rs. 145 Lakhs

2. This notification shall remain in force for a period of three years in relation to the assessment years 2002-2003, 2003-2004 and 2004-2005 in respect of project and scheme mentioned in the Table.

[No. 152/2001/F. No. N.C. 61/2001]