S.O. 427(E) : Notification: S. O. 427(E) Date of Issue: 19/5/1998

Notification: S. O. 427(E) Date of Issue: 19/5/1998

Notification: S. O. 427(E)

Section(s) Referred: s. 35AC(1)

Statute: INCOME TAX

Date of Issue: 19/5/1998

Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under 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 had specified at serial number 9, construction, furnishing and running of South Block of Ashram Sravana Old Age Home and Eye-cum-General Hospital at Ramanayyapeta village, near Kakinada Town of Association for the Care of the Aged, House No. 8-14-1, 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;

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 construction, furnishing and running of South Block of Ashram Sravana Old Age Home and Eye-cum-General Hospital at Ramanayyapeta village, near Kakinada Town of 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 two assessment years commencing from the assessment year 1999-2000.

[No. 10604/F. No. NC-29/98]