Exemption u/s 35 AC - Central Government had specified for development and extension of educational, medical and sports facilities to rural areas in 50 villages around Ankleshwar of Ankleshwar Industrial Development Society, Ankleshwar as an eligible project or scheme

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....cified for development and extension of educational, medical and sports facilities to rural areas in 50 villages around Ankleshwar of Ankleshwar Industrial Development Society, Ankleshwar as an eligible project or scheme NOTIFICATION NO. S.O. 216(E) DATED 16-3-1998 Whereas by Notification No. S. O. 228(E), dated 17th March, 1994, issued under sub-section (1) read with clause (b) of the Explan....

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.... with the assessment year 1998-99, vide S. O. No. 218(E), dated 19th March, 1996 : And whereas the said project or scheme is likely to extend beyond five 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....