NOTIFICATION
INCOME-TAX ACT
Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Amendment in Notification No.S.O. 399(E), dated 6-6-1996
NOTIFICATION NO.92/2010[F.NO.V.27015/4/2010-SO(NAT.COM)]/S.O. 3067(E), DATED 30-12-2010
WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 399(E), dated the 6th June, 1996, 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 8, “Equipments and Running of Polio Hospital at Ahmedabad, Gujarat” by Polio Foundation, Shah Chimenlal Chhotalal Lokandwala Charitable Trust Hospital for the Handicapped, Raipur, Chekla, Ahmedabad-1, as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998, which was extended further vide notification number S.O. 324(E), dated the 11th May, 1999 for a period of the three years beginning with assessment year 2000-2001, which was extended further vide notification number S.O. 614(E) dated the 7th June, 2002 for a period of three years beginning with assessment year 2003-2004, which was extended further vide notification number S.O. 153(E), dated the 3rd February, 2006 for a period of three years beginning with financial year 2005-2006 and which was extended further vide notification number S.O. 1306(E), dated the 4th June, 2008 for a period of three years beginning with financial year 2008-2009;
AND WHEREAS by notification number S.O. 324(E), dated the 11th May, 1999, the estimated cost was enhanced from Rs. 63.15 lakh to Rs. 71.50 lakh; vide notification number S.O. 153(E), dated the 3rd February, 2006 the estimated cost was further enhanced from Rs. 71.50 lakh to Rs. 151.35 lakh; vide notification number S.O. 845(E), dated 25th March, 2009 the estimated cost was further enhanced from Rs. 151.35 lakh to Rs. 3 crore.
AND WHEREAS the said project or scheme is likely to extend beyond fifteen 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 enhancing the project cost from Rs. 3.00 crore to Rs. 7.55 crore.
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 specifies the scheme or project, “Equipments and Running of Polio Hospital at Ahmedabad, Gujarat”, which is being carried out by Polio Foundation, Shah Chimenlal Chhotelal Lokandwala Charitable Trust Hospital for the Handicapped, Raipur, Chekla, Ahmedabad-1;
(b) further amends the said notification number S.O. 399(E), dated the 6th June, 1996, to the following effect, namely:—
In the said notification, in the Table against serial number 8, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word “Rs. 3.00 crore”, the letters, figures and word “Rs. 7.55 crore” shall be substituted.
