Exemption u/s 35 AC - Central Government had specified for construction and furnishing of sports complex building at village Memnagar, of the Ahmedabad Government Employees Tennis Association, Gujarat Tennis Academy, Ahmedabad as an eligible project or scheme - S.O. 915(E) - Income Tax

Section 35AC exemption extended for sports complex project, specifying continued eligibility and administrative approval for further assessment years.

The Central Government specifies the construction and furnishing of the Memnagar sports complex by the Ahmedabad Government Employees Tennis Association as an eligible project under section 35AC, following a National Committee recommendation that the project was being executed properly, and extends the scheme's eligibility for a further three assessment years commencing from assessment year 1999-2000.