Exemption u/s 35AC - Central Government had specified for Construction of Dev-Sangha National School and Hostel Building at Bompass Town, Deoghar Bihar by Dev-Sangha Seva Pratisthan as an eligible project or scheme - 115/2003- S.O. 524(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Construction of Dev-Sangha National School and Hostel Building at Bompass Town, Deoghar Bihar by Dev-Sangha Seva Pratisthan as an eligible project or scheme Notification No. 115 of 2003, dt. 9th May, 2003 S.O. 524(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 180(E), dated the 10th March, 1997, 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, for Construction of Dev-Sangha National School and Hostel Building at Bompass Town, Deoghar Bihar by Dev-Sangha Seva Pratisthan, 28-2A, H.K. Sett Lane, Calcutta-700050, West Bengal as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998 and which was extended further vide notification number S.O. 323(E) dated 11th May, 1999, for a period of three years beginning with assessment year 2000-2001; And whereas the said project or scheme is likely to extend beyond six 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 scheme or project of Construction of Dev-Sangha National School and Hostel Building at Bompass Town, Deoghar Bihar which is being carried out by Dev-Sangha Seva Pratisthan, 28-2A, H.K. Sett Lane, Calcutta-700050 West Bengal, at the estimated cost of rupees three crores only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2003-2004. [F.No. NC-53-2003]