Exemption u/s 35AC - Central Government had specified for Construction of Saraswati Vidya Mandir, a residential high school for the tribals and economically backward classes with vocational training centre of Shri Hari Vanvasi Vikas Samit, Kalyan Ashram, Ranchi as an eligible project or scheme - S. O. 314(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Construction of Saraswati Vidya Mandir, a residential high school for the tribals and economically backward classes with vocational training centre of Shri Hari Vanvasi Vikas Samit, Kalyan Ashram, Ranchi as an eligible project or scheme NOTIFICATION NO. S. O. 314 ( E ) DATED 11-5-1999 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 402(E), dated 3rd 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 at serial number 3---Construction of Saraswati Vidya Mandir, a residential high school for the tribals, harijans and economically backward classes with vocational training centre at village Navadina, P.O. Nayadhi, P. S. Ghanghra (Dist. Guhila), Bihar, of Shri Hari Vanvasi Vikas Samit, Kalyan Ashram, Near Bangla School, Gali, Ranchi 834 001, 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 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 project or scheme of construction of Saraswati Vidya Mandir, a residential high school for the tribals, harijans and economically backward classes with vocational training centre at village Navadina, P.O. Nayadhi, P. S. Ghanghra (Dist. Guhila), Bihar, which are being carried out by Shri Hari Vanvasi Vikas Samiti, Kalyan Ashram, Near Bangla School Gali, Ranchi 834 001, at the estimated cost of rupees ninety-three lakhs ninety-eight thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10910/F. No. NC-39/99]