Notification No. 150/2005, Dated 25-5-2005
Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.549(E) dated the 2nd July, 1998, issued under sub section (1) read with clause (b) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1, for Construction of building for school with all facilities, purchase of equipments/materials at Tambaram, Chennai, by Valluvar Gurukulam, 74, G.S.T. Road, Tambaram, Chennai-45, as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000 which was extended further vide notification number S.O.543(E) dated the 20 June, 2001 for ,a period of three years beginning with assessment year 2002-2003;
And whereas the said project or scheme is likely to extend beyond six 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 subsection (1) read with clause (b) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project for Construction of building for school with all facilities, purchase of equipments/materials at Tambaram, Chennai, which is being carried out by Valluvar Gurukulam, 74, G.S.T. Road, Tambaram, Chennai-45, without any change in the approved cost i.e. Rs. 123.00 lakhs plus a corpus fund of Rs.37.00 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2004-2005.
[F.No. NC-270/11/2005]
