Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction of AdministrativeBuilding, Training-cum-Production Centre and Women Hostel at M.R. Palli, Tirupathi Rural, Chittoor District, Andhra Pradesh, by Rayalaseema Seva Samithi (RASS) - 374/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction of Administrative Building , Training-cum-Production Centre and Women Hostel at M.R. Palli, Tirupathi Rural, Chittoor District, Andhra Pradesh, by Rayalaseema Seva Samithi (RASS) NOTIFICATION NO. 374 Dated 9th December. 2002 Whereas by notification of the Government of India in the Ministry of Finance number S.0.388(E) dated the 19th May, 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 22, for Construction of Administrative Building, Training-cum-Production Centre and Women Hostel at M.R. Palli, Tirupathi Rural, Chittoor District, Andhra Pradesh, by Rayalaseema Seva Samithi (RASS), No.9, Old Huzur Office Buildings, Tirupathi, Andhra Pradesh, as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999 which was extended further vide notification number S.0.865(E) dated 21st September, 2000 for a period of two years beginning with assessment year 2001-2002; And whereas, the said project or scheme is likely to extend beyond five years; And whereas, the National Committee, being satisfied that the 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 two 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 Administrative Building, Training-cum-Prodiuction Centre and Women Hostel at M.R. Palli, Tirupathi Rural, Chittoor District, Andhra Pradesh, which is being carried out by Rayalaseema Seva Samithi (RASS), No.9, Old Huzur Office Buildings, Tirupathi, Andhra Pradesh at the estimated cost of rupees ninety two lakhs only, as an eligible project or scheme for a further period of two years commencing from the assessment year 2003-2004. Sd/- (G.C.Srivastava) Secretary (National Committee) F.No. NC-113/2002