Exemption u/s 35AC - Central Government had specified for construction of 150 beds, old age home at Village Ranawadi, Taluka Velhi, District Pune, Maharashtra of Janaseva Foundation, Pune as an eligible project or scheme - S. O. 408(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of 150 beds, old age home at Village Ranawadi, Taluka Velhi, District Pune, Maharashtra of Janaseva Foundation, Pune as an eligible project or scheme NOTIFICATION NO. S. O. 408 ( E ) DATED 15-5-1998 Whereas by Notification Number S. O. 713(E), dated 8th August, 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 3, construction of 150 beds, old age home at Village Ranawadi, Taluka Velhi, District Pune, Maharashtra of Janaseva Foundation, 699, Pulachi Wadi, Deccan Gymkhana, Pune-411 004, Maharashtra 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 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 construction of 150 beds, old age home at Village Ranawadi, Taluka Velhi, District Pune, Maharashtra of Janaseva Foundation, 699, Pulachi Wadi, Deccan Gymkhana, Pune-411 004, Maharashtra, at the estimated cost of rupees seventy seven lakhs seventy five thousand only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1999-2000. [No. 10592/F. No. NC-29/98]