Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Purchase of land, Construction of home for destitute girls, Construction of High School and Technical Institute and Running of the project by AMCHA GHAR as an eligible project or scheme - 007/2006- S.O. 138(E) - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Purchase of land, Construction of home for destitute girls, Construction of High School and Technical Institute and Running of the project by AMCHA GHAR as an eligible project or scheme NOTIFICATION NO. 7/2006, DATED 3-2-2006 S.O. 138 (E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.681(E) dated the 13 th June, 2003, 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 2, for (a) Purchase of land (b) Construction of home for destitute girls (c) Construction of High School and Technical Institute and (d) Running of the project by AMCHA GHAR, 406/7, Deep Sagar Building, Light House Road, Uttan, Bhayandar, Thane, Bombay-401106, as an eligible project or scheme for a period of two years beginning with assessment year 2004-2005; And whereas the said project or scheme is likely to extend beyond two years; And whereas the National Committee for Promotion of Social and Economic Welfare, 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 for (a) Purchase of land (b) Construction of home for destitute girls; (c) Construction of High School and technical institute and (d) running of the project which is being carried out by AMCHA GHAR, 406/7, Deep Sagar Building, Light House Road, Uttan, Bhayandar, Thane, Bombay-401106, without any change in the approved estimated cost i.e. ₹ 1157.10 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006.