Notification No. 60/2004-Income Tax Dated 23/2/2004

Notification No. 60 of 2004, dt. 23rd Feb., 2004

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 388(E) dated the 19th May, 1997, issued under clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 25, for Construction, equipments vans, furnishing and running of Home for spastics at Sector-7, Papankala, Dwarka, New Delhi, by Handicapped Children’s Parents Association, B-2/37, Safdarjung Enclave, New Delhi, as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999 and which was extended further vide notification number S.O.290(E), dated the 28th March, 2001 as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002;

And whereas the said project or scheme is likely to extend beyond six years;

And whereas the National Committee for Promotion of Social and Economic Welfare, 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 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 specifies the scheme or project of Construction, equipments vans, furnishing and running of Home for spastics at Sector-7, Papankala, Dwarka, New Delhi, which is being carried out by Handicapped Children’s Parents Association, B-2/37, Safdarjung Enclave, New Delhi at the estimated cost of rupees two crores forty five lakhs plus a corpus fund of Rs. one crore only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2004-2005.