S.O. 552(E) : Notification: S. O. 552(E) Date of Issue: 2/7/1998

Notification: S. O. 552(E) Date of Issue: 2/7/1998

Notification: S. O. 552(E)

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

Statute: INCOME TAX

Date of Issue: 2/7/1998

Whereas by Notification Number S. O. 713(E), dated 8th August, 1995, as amended by S.O. 188(E), dated 12th March, 1997, 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 4, (a) Sports Coaching Foundation Capital nature project; (b) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of The Sports Coaching Foundation, 203, Cresent Towers, Masab Tank, Hyderabad-500 028, 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 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 (a) Sports Coaching Foundation Capital nature project; (b) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of The Sports Coaching Foundation, 203, Cresent Towers, Masab Tank, Hyderabad-500 028, at the estimated cost of rupees forty-two lakhs eighty-six thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.

[No. 10635/F. No. NC-50/98]