Exemption u/s 35 AC - Central Government had specified the construction of multi-purpose Gymnasium hall and other sports facilities, for holding sports meets at Narayangaon, Tal, Junnar, District Pune, Maharashtra of Gramonnati Mandal, Narayangaon as an eligible project or scheme - S.O. 211(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified the construction of multi-purpose Gymnasium hall and other sports facilities, for holding sports meets at Narayangaon, Tal, Junnar, District Pune, Maharashtra of Gramonnati Mandal, Narayangaon as an eligible project or scheme NOTIFICATION NO. S.O. 211 ( E ) DATED 16-3-1998 Whereas by Notification No. S. O. 791(E) dated 18th September, 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 10, the construction of multi-purpose Gymnasium hall and other sports facilities, for holding sports meets at Narayangaon, Tal, Junnar, District Pune, Maharashtra of Gramonnati Mandal, Narayangaon---410505, as an eligible project or scheme for a period of two years beginning with the assessment year 1996-97 ; 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 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 the construction of multi-purpose gymnasium hall and other sports facilities for holding sports meets at Narayangaon, Tal, Junnar, District Pune, Maharashtra of Gramonnati Mandal, Narayangaon----410505, at the estimated cost of rupees forty lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-99. [No. 10549/F. No. NC-9/98]