Exemption u/s 35AC - Central Government had specified for construction, equipment and furnishing of building and school hostel at village Boxma, District Sambalpur, Orissa of Sanatan Rishikul Ashram Sewa Trust, Orissa as an eligible project or scheme - S.O. 918(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction, equipment and furnishing of building and school hostel at village Boxma, District Sambalpur, Orissa of Sanatan Rishikul Ashram Sewa Trust, Orissa as an eligible project or scheme NOTIFICATION NO. S.O. 918 ( E ) DATED 29-12-1997 Whereas by Notification Number S. O. 206(E), dated the 17th March 1997, issued under sub-section (1) read with clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961(43 of 1961), the Central Government had specified at serial number 11, construction, equipment and furnishing of building for a school hostel at village Boxma, District Sambalpur, Orissa of Sanatan Rishikul Ashram Sewa Trust, Village Boxma, P. O. Bhojpur, Sub-Division Kuchinda, Sambalpur, Orissa-768223, as an eligible project or scheme for a period of two years commencing from the assessment year 1997-98 And whereas the said project or scheme is likely to extend beyond two 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 one year Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, equipment and furnishing of building for a school hostel at village Boxma, District Sambalpur, Orissa which is being carried out by Sanatan Rishikul Ashram Sewa Trust, Village Boxma, P.O. Bhojpur, Sub-Division Kuchinda, Sambalpur, Orissa-768223, at the estimated cost of rupees ten lakhs eight only as an eligible project or scheme for a further period of one assessment year commencing from the assessment year 1999-2000. [No. 10487/F. No. NC-141/97]