865(E) : Notification: 865(E) Date of Issue: 21/9/2000

Notification: 865(E) Date of Issue: 21/9/2000

Notification: 865(E)

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

Statute: INCOME TAX

Date of Issue: 21/9/2000

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 22, the construction of administrative building, training-cum-production centre and women hostel at M. R. Palli, Tirupati Rural, Chitoor District, Andhra Pradesh by Rayalaseema Seva Samithi (RASS), No. 9, Old Huzur Office Buildings, Tirupati, Andhra Pradesh, as an eligible project or scheme for a period of three years beginning with the assessment year 1998-99 ;

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 two 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 the construction of administrative building, training-cum-production centre and women hostel at M. R. Palli, Tirupati Rural, Chitoor District, Andhra Pradesh by Rayalaseema Seva Samithi (RASS), No. 9, Old Huzur Office Buildings, Tirupati, Andhra Pradesh, at the estimated cost of rupees ninety-two lakhs only, as an eligible project or scheme for a further period of two years beginning with the assessment year 2001-2002.

[No. 11505/F. No. NC-73/2000]