Exemption u/s 35 AC - Central Government had specified the drinking water supply project in District Anantpur, Andhra Pradesh, by Sri Sathya Sai Central Trust, District Anantpur, Andhra Pradesh as an eligible project or scheme - S.O.408(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified the drinking water supply project in District Anantpur, Andhra Pradesh, by Sri Sathya Sai Central Trust, District Anantpur, Andhra Pradesh as an eligible project or scheme NOTIFICATION NO. S.O.408 ( E ) DATED 6-6-1996 Whereas by notification, vide S. O. No. 471(E), dated 26th May, 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 the scheme at serial number 6, the drinking water supply project in District Anantpur, Andhra Pradesh, by Sri Sathya Sai Central Trust, District Anantpur, Andhra Pradesh, as an eligible project or scheme for a period of one year commencing from the assessment year 1996-97 ; And whereas the said project or scheme is likely to extend beyond one year ; And whereas the National Committee being satisfied that the said project or scheme is 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 one year ; 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 of drinking water supply project in District Anantpur, Andhra Pradesh, which is being carried out by Sri Sathya Sai Central Trust, District Anantpur, Andhra Pradesh, at the estimated cost of rupees one hundred seventy-eighty crores fifty lakhs only as an eligible project or scheme for a further period of one assessment year, i.e., assessment year 1997-98. [No. 10112/F. No. NC-73/96]