Exemption u/s 35AC - Central Government had specified for land development construction, furnishing and equipments/medicines of Vishwabalak Kendra, by Children of the World (India) Trust, Tardeo, Mumbai, as an eligible project or scheme - 11194 - Income Tax

Exemption u/s 35AC - Central Government had specified for land development construction, furnishing and equipments/medicines of Vishwabalak Kendra, by Children of the World (India) Trust, Tardeo, Mumbai, as an eligible project or scheme NOTIFICATION NO. 11194 DATED 4-1-2000 S. O. 14(E) - Whereas by notification of the Government of India in the Ministry of Finance, number S.O. 973(E) dated the 14th December, 1995 [published at (1995) 129 CTR (St) 47], issued under sub-section (1) read with clause ( b ) of the Explanation to section 35AC of the IT Act, 1961 (43 of 1961), the Central Government had specified at serial number 1 land development construction, furnishing and equipments/medicines of Vishwabalak Kendra, by Children of the World (India) Trust, Tardeo, Mumbai, as an eligible project or scheme for a period of two years beginning with assessment year 1996-97, which was extended vide S.O. 399(E) dated 19th May, 1997 [published at (1997) 140 CTR (St) 101 for a period of two more years beginning with assessment year 1998-99. And whereas the said project or scheme is likely to extend beyond four 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 land development construction, furnishing and equipments/medicines of Vishwabalak Kendra, which is being carried out by children of the World (India) Trust, Tardeo, Mumbai, at the estimated cost of rupees one crore nineteen lakhs seventy-two thousand only, as an eligible project or scheme for a period of two years beginning with the assessment year 2000-2001. [F.No. NC 136/99]