NOTIFICATIONS
INCOME-TAX ACT
Section 35AC(1), read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes
NOTIFICATION NO. 47/2010 [F.NO. V-27015/1/2010-SO (NAT.COM)]/S.O. 1148(E), DATED 17-5-2010
WHEREAS by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 466(E), dated the 29th March, 2007, issued under 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 had notified at serial number 21, “(i ) Running and Maintenance of Sri Sathya Sai Institute of Higher Medical Sciences at Prasanthigram (Andhra Pradesh) and at Whitefield, Bangalore (Karnataka), (ii) Running and Maintenance of Sri Sathya Sai Mobile Hospital, (iii) Building a corpus fund for the Trust” by Sri Sathya Sai Medical Trust, Brindavan, Kadugodi Post, Bangalore – 560067, as an eligible project or scheme for a period of three years beginning with financial year 2007-08;
AND WHEREAS the said project or scheme is likely to extend beyond three 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) – (a) hereby notifies the scheme or project “(i) Running and Maintenance of Sri Sathya Sai Institute of Higher Medical Sciences at Prasanthigram (Andhra Pradesh) and at Whitefield Bangalore (Karnataka), (ii) Running and Maintenance of Sri Sathya Sai Mobile Hospital, (iii) Building a corpus fund for the Trust”, which is being carried out by Sri Sathya Sai Medical Trust, Brindavan, Kadugodi Post, Bangalore – 560067, without any change in the approved cost of Rs. 193.20 crore including a corpus fund of Rs. 50 crore as an eligible project or scheme for a further period of three years beginning with financial year 2010-11 i.e., 2010-11, 2011-12 and 2012-13.
