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. 59/2010[F. NO. V-27015/2/2010-SO (NAT.COM)]/ S.O. NO. 1786(E), DATED 21-7-2010

WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 92(E), dated the 2nd February, 1996, issued under 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 5, “Conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat” by Karuna Trust, 22, Gautam Nagar, Near Naranpura Railway Crossing, Ahmedabad-13, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97, which was extended further vide Notification Number S.O. 57(E), dated the 16th January, 1998 for a period of three years beginning with assessment year 1999-2000 which was extended further vide notification Number S.O. 539(E), dated the 20th June, 2001 for a period of three years beginning with assessment year 2002-03, which was extended further vide Notification Number S.O. 143(E), dated the 2nd February, 2005 for a period of three years beginning with financial year 2004-05 and which was extended further vide Notification Number S.O. 1307(E), dated 4th June, 2008 for a period of three years beginning with financial year 2007-08;

AND WHEREAS by Notification Number S.O. 539(E), dated the 20th June, 2001 the estimated cost was enhanced from Rs. 94 lakhs to Rs. 128 lakhs and vide Notification Number S.O. 1307(E), dated 4th June, 2008 the estimated cost was enhanced further from Rs. 128 lakhs to Rs. 153 lakhs;

AND WHEREAS the said project or scheme is likely to extend beyond fifteen years;

AND, WHEREAS, the National Committee for the 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 extending 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 “Conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat”, which is being carried out by Karuna Trust, 22, Gautam Nagar, Near Naranpura Railway Crossing, Ahmedabad-13, without any change in the approved cost of Rs. 153 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2010-11 i.e. 2010-11, 2011-12 and 2012-13.

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Category : Income Tax (27624)
Type : Notifications (15857) Notifications/Circulars (32017)

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