Exemption u/s 35 AC - Central Government had specified for Construction of swimming pool complex with facilities of boarding and lodging for the swimmers and a modern gymnasium at Basavanagudi, and running of Basavanagudi Aquatic Centre, Bangalore as an eligible project or scheme

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....nment had specified for Construction of swimming pool complex with facilities of boarding and lodging for the swimmers and a modern gymnasium at Basavanagudi, and running of Basavanagudi Aquatic Centre, Bangalore as an eligible project or scheme NOTIFICATION NO. S.O. 919(E) DATED 29-12-1997 Whereas by Notification Number S. O. 402(E), dated the 3rd May 1995, issued under sub-section (1) read w....

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....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 Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project Construction of swimming pool complex with facilities of boarding an....