868(E) : Notification: 868(E) Date of Issue: 21/9/2000

Notification: 868(E) Date of Issue: 21/9/2000

Notification: 868(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 19, the construction of building, its furnishing and vehicle for home for aged orphans at Pedakakani on National Highway No. 5, Near 7th K. M., Guntur, Andhra Pradesh, by Vathsalya Ashramam, No. 103, Mayuri Homes, Ring Road, Koritapadu, Guntur, 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 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 the construction of building, its furnishing and vehicle for home for aged orphans at Pedakakani on National Highway No. 5, Near 7th K. M., Guntur, Andhra Pradesh, which is being carried out by Vathsalya Ashramam, No. 103, Mayuri Homes, Ring Road, Koritapadu, Guntur, Andhra Pradesh, at the estimated cost of rupees one hundred thirty nine lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002.

[No. 11508/F. No. NC-73/2000]