Exemption u/s 35AC - Central Government had specified for supporting educational needs of poor children in DeepalayaSchool by Deepalaya, New Delhi, as an eligible project or scheme - S.O.1050(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for supporting educational needs of poor children in Deepalaya School by Deepalaya, New Delhi , as an eligible project or scheme NOTIFICATION NO. S.O.1050(E) DATED 18-10-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 212(E), dated the 1st April, 19992, issued under 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 7, for supporting educational needs of poor children in Deepalaya School at Kalkaji Extension, Near Govindpur, New Delhi, by Deepalaya, GN-12, Shivaji Enclave, New Delhi-110 027, as an eligible project or scheme for a period of three years beginning with the assessment year 1999-2000; And whereas the said project or scheme is likely to extend beyond three years; And whereas the National Committee has, 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 supporting educational needs of poor children in Deepalaya School at Kalkaji Extension, Near Govindpur, New Delhi, which is being carried out by Deepalaya, GN-12, Shivaji Enclave, New Delhi-110 027, at the estimated cost of rupees six crores forty lakhs as corpus fund only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2002-2003. [No. 331-2001/F. No. N.C-100/2001]