Exemption u/s 35AC - Central Government had specified for the construction of building, its furnishing and vehicle for Home for Aged and Orphans by Vathsalya Ashramam, Andhra Pradesh, as an eligible project or scheme - 11508 - Income Tax

Exemption u/s 35AC - Central Government had specified for the construction of building, its furnishing and vehicle for Home for Aged and Orphans by Vathsalya Ashramam, Andhra Pradesh, as an eligible project or scheme NOTIFICATION NO. 11508 DATED 21-9-2000 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 388(E), dated the 19th May, 1997 [published at (1997) 140 CTR (St) 1], 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 19 the construction of building, its furnishing and vehicle for Home for Aged and Orphans at Pedakakani on National Highway No. 5, Near 7th K.M. Guntur, Andhra Pradesh, by Vathsalya Ashramam, 103, Mayuri Homes, Ring Road, Koritapadu, Guntur, Andhra Pradesh, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99; 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 subrule (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 of building, its furnishing and vehicle for Home for Aged and Orphans at Pedakakani on National Highway No. 5, Near 7th K.M., Guntur, Andhra Pradesh, which is being carried out by Vathsalya Ashram, 103, Mayuri Homes, Ring Road, Koritapadu, Guntur, Andhra Pradesh, at the estimated cost of rupees one hundred thirty nine lakhs only, as an eligible project or scheme for a further period of three years beginning with assessment year 2001-2002. [F. No. NC-73/2000]