NOTIFICATION NO. 35/2007, DATED 15-2-2007
Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) Number S.O. 606(E) dated the 7th June, 2002, issued under sub-section (1) read with clause (b) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial Number 3, for Construction and running of Destitute Centre at Bhilarewadi, Katraj, Pune by Janaseva foundation Indulal Complex Above Rupee Co-Op. Bank, Navi Peth, L.B.S. Road, Pune-411030 as an eligible project or scheme for a period of two years beginning with assessment year 2002-03 and which was extended further vide notification Number S.O.1247(E) dated the 30th October, 2003 for a period of three years beginning with assessment year 2004-05;
AND WHEREAS the said project or scheme is likely to extend beyond five 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 two 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 35 AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project for Construction and running of Destitute Centre at Bhilarewadi, Katraj, Pune which is being carried out by Janaseva foundation Indulal Complex Above Rupee Co-Op. Bank, Navi Peth, L.B.S. Road, Pune-411030, without any change in the approved cost of Rs. 118.48 lakhs, as an eligible project or scheme for a further period of two years commencing from the financial year 2006-07.
[F. No. NC-274/04/2006]
