Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Sankara Eye Hospital, Chennai

Notification No. 120/2011 [F.No.V-27015/5/2011-SO (NAT.COM)]/S.O. 2881(E), dated 27-12-2011

Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2370(E), dated 3rd October, 2008, issued under sub-section (i) 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 4, “Kannoli -Vision Saver” by Sankara Eye Hospital, No. 1, Third Cross Street, Sri Sankara Naga, Pammal, Kanchipuram district, Chennai 600 075, Tamilnadu, as an eligible project or scheme for a period of three years beginning with financial year 2008-09;

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 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), hereby notifies the scheme or project “Kannoli – Vision Saver” which is being carried out by Sankara Eye Hospital, No. 1, Third Cross Street, Sri Sankara Nagar, Pammal, Kanchipuram district, Chennai 600 075, Tamilnadu, without any change in the approved cost of Rs. 12.25 crore including a corpus fund of Rs. 10 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2011-12 i.e., 2011-12, 2012-13 & 2013-14

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Category : Income Tax (25339)
Type : Notifications (15369) Notifications/Circulars (30576)

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