SECTION 35AC, READ WITH EXPLANATION (B) THERETO OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – H.B.S TRUST, JODHPUR
NOTIFICATION NO. 88/2012 [F. NO. V.27015/3/2012-SO (NAT.COM)]/S.O. 2416(E), DATED 9-10-2012
Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.604(E) dated 20th May, 2004 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 10, “Establishment and running of the school and hospital” by H.B.S. Trust, (Human Benefits Service Trust) 21-C, First Floor, Ratanada, Jodhpur – 342001, (Rajasthan), as an eligible project or scheme for a period of three years beginning with financial year 2003-2004, which was extended further vide notification number S.O.484(E) dated the 29th March, 2007 for a period of three years beginning with financial year 2006-2007 and which was extended further vide notification number S.O. 2910(E) dated 17th November, 2009 for a period of three years beginning with financial year 2009-10;
And whereas the said project or scheme is likely to extend beyond nine 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 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 “Establishment and running of the school and hospital” which is being carried out by H.B.S. Trust (Human Benefits Service Trust), 21-C, First Floor, Ratanada, Jodhpur-342001, (Rajasthan), without any change in the approved cost of Rs. 937.74 lakh including a corpus fund of Rs. 500.00 lakh, as an eligible project or scheme for a further period of three years beginning with financial year 2012-13, i.e. 2012-13, 2013-14 & 2014-15.
