Exemption u/s 35 AC - Central Government had specified for construction, furnishing and running of Bal Ganga Mahavidyalaya by Bal Ganga Shiksha Prasar Samiti, Kemara (Kemar), Uttar Pradesh, as an eligible project or scheme - S.O.1215(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified for construction, furnishing and running of Bal Ganga Mahavidyalaya by Bal Ganga Shiksha Prasar Samiti, Kemara (Kemar), Uttar Pradesh, as an eligible project or scheme NOTIFICATION NO. S.O.1215(E) DATED 12-12-2001 Whereas by notification of the Government of India, in the Ministry of Finance Number S. 0. 20(E), dated the 6th January, 1995, 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 8, for construction, furnishing and running of Bal Ganga Mahavidyalaya at Sandul, Kemer, Tehri Gerhwal, Uttar Pradesh, by Bal Ganga Shiksha Prasar Samiti, Kemara (Kemar), P.O. Silyara, Via. Ghansali, Tehri Garhwal, Uttar Pradesh, as an eligible project or scheme for a period of three years commencing from the assessment year 1995-96 which was extended further vide notification number S. 0. No. 404(E), dated the 15th May, 1998, for a period of three years commencing from assessment year 1998-99 ; And whereas the said project or scheme is likely to extend beyond six 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 construction, furnishing and running of Bal Ganga Mahavidyalaya at Sandul, Kemer, Tehri Garhwal, Uttar Pradesh, which is being carried out by Bal Ganga Shiksha Prasar Samati, Kemara (Kemar), P.O. Silyara, Via. Ghansali, Tehri Garhwal, Uttar Pradesh, at the estimated cost of rupees one crore forty nine lakhs ninety three thousand -only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2001-2002. [No. 363-2001/F. No. NC-106/2001]