Notification No. 538E-

Institution mentioned in column (2) of the table below and specifies the eligible project or scheme and the estimated cost thereof approved under section 35AC

What this is

Notification No. 538E- was published on 20 June 2001. Its subject is Institution mentioned in column (2) of the table below and specifies the eligible project or scheme and the estimated cost thereof approved under section 35AC.

This is an approval of a named institution. It affects that institution and the people who deal with it; the years it covers are stated in it and are the whole of its reach.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.35AC	no counterpart recorded

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

Notification No. S.O. 538(E), dated 20th June, 2001.

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), the Central Government, on the recommendations of the National Committee hereby approves the institution mentioned in column (2) of the table below and specifies the eligible project or scheme and the estimated cost thereof as mentioned in column (3) of the said table and also specifies in the column (4) of the s aid table, the maximum amount of such cost which may be allowed as deduction under the said section 35AC, namely:--

Serial No. Name of the Institution Project or scheme and estimated cost thereof Maximum amount of cost to be allowed as deduction under section 35AC

1 2 3 4

Sihor Education Founda tion, C/o. N.M. Bhuta College of Commerce and Management, Sihor District, Bhavnagar-364240 Construction of building

for college, auditorium

hostel for students, staff

quarters and principal's

bungalow, purchase of

fixtures, equipments/

furnishing and running of

college of commerce and

management likely to

cost Rs. 487.85

lakhs including a corpus

fund of Rs. 145 lakhs Rs. 480.62 lakhs including a corpus fund of Rs. 145 Lakhs

2. This notification shall remain in force for a period of three years in relation to the assessment years 2002-2003, 2003-2004 and 2004-2005 in respect of project and scheme mentioned in the Table.

[No. 152/2001/F. No. N.C. 61/2001]

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 3/2022 — Specifying forms returns statements reports orders by whatever name called prescribed in appendix ii to be furnished ele 16 July 2022
Notification No. 2/2019 [F. No. V. 27013/3/2018-SO(NAT.COM)]/SO 3122(E) — Ministry of Finance 28 August 2019
Notification No. 1/2019 [F. No. V. 27013/3/2018-SO(NAT.COM)] / SO 1706(E) — Ministry of Finance 8 May 2019
Notification No. S.O. 1706 [No. 1/2019 (F.No.V.27013/3/2018-SO(nat.com)] — Section 35AC of the Income-tax Act, 1961, read with rule 11G of the Income-tax Rules, 1962 - Eligible Projects or Scheme 8 May 2019
Notification No. 2/2018 [F.No.V.27013/3/2018-SO(NAT.COM)] SO 5160(E) — Ministry of Finance 5 October 2018
Notification No. 1/2018 [F.No.V.27013/3/2018-SO(NAT.COM)] / SO 1658(E) — MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 17th April, 2018 S.O 17 April 2018

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.