56E : Notification: S.O. 56(E) Date of Issue: 16/1/1998

Notification: S.O. 56(E) Date of Issue: 16/1/1998

Notification: S.O. 56(E)

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

Statute: INCOME TAX

Date of Issue: 16/1/1998

Whereas by Notification Number S.O. 92(E), dated 2nd February, 1996, issued under sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, Girnar Development/Drinking Water Project at Mount Girnar, Junagadh District, Gujarat of Shree Neminath Bhagwant Public Trust C/o K. T. Hemani And Co., Toran, Limada Chowk, Subhash Road, Rajkot-1, as an eligible project or scheme for a period of two years beginning with the assessment year 1996-97

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 two years

Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Girnar Development/Drinking Water Project at Mound Girnar, Junagadh District, Gujarat of Shree Neminath Bhagwant Public Trust C/o K. T. Hemani And Co., Toran, Limada Chowk, Subhash Road, Rajkot-1, at the estimated cost of rupees one hundred fifty lakhs only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1998-99.

[No. 10510/F. No. NC-153/97