Exemption u/s 35AC - Central Government had specified for construction of building of Arts and Commerce College, Rural Science and Pharmacy College, Industrial Training Institute and Hostel at Shardagram of Shree Bharat Saraswati Mandir Sansad, Gujarat as an eligible project or scheme

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....overnment had specified for construction of building of Arts and Commerce College, Rural Science and Pharmacy College, Industrial Training Institute and Hostel at Shardagram of Shree Bharat Saraswati Mandir Sansad, Gujarat as an eligible project or scheme NOTIFICATION NO. S. O. 436(E) DATED 20-5-1998 Whereas by Notification Number S. O. 224(E), dated 16th March, 1994, issued under sub-section....

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....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 sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby....