631(E) : Notification: 631(E) Date of Issue: 5/7/2000

Notification: 631(E) Date of Issue: 5/7/2000

Notification: 631(E)

Section(s) Referred: s. 35AC(b) ,r. 11M(5) ,s. 35AC(1)(b)

Statute: INCOME TAX

Date of Issue: 5/7/2000

Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 973(E), dated 14th December, 1995, 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 9, construction, furnishing and running of South Block of Ashram Sravani Old Age Home and Eye-cum-General Hospital at Ramanayyapeta Village, Near Kakinada Town, by Association for the Care of the Aged, House No. 814-1, Mahalakshmi Nilayam, Gandhi Nagar, Kakinada-4, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97, which was extended further vide Notification No. S.O. 427(E), dated 19th May, 1998, for a period of two years beginning with the assessment year 1999-2000.

And whereas the said project or scheme is likely to extend beyond five 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 construction, furnishing and running of South Block of Ashram Sravana Old Age Home and Eye-cum-General Hospital at Ramanayyapeta Village, Near Kakinada Town, which is being carried out by Association for the Care of the Aged, House No. 8-14-1, Mahalakshmi Nilayam, Gandhi Nagar, Kakinada-4, at the estimated cost of rupees nine lakhs seventy thousand only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002.

[No. 11419/F. No. NC-46/2000]