NOTIFICATION NO. 242/2006, DATED 4-9-2006

S.O. 1424(E) – Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) Number S.O. 1124(E), dated the 29th September, 2003, 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 specified at serial number 10, for Recycle Recover Reuse of plastic waste in an eco-friendly manner by Indian Centre for Plastics in the Environment, 205 Hari Chambers, Shahid Bhagat Singh Road, Mumbai-400023, as an eligible project or scheme for a period of three years beginning with Assessment Year 2004-05;

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 and amending the address from “205, Hari Chambers, Shahid Bhagat Singh Road, Mumbai-400023” to “2nd Floor, Kushesh Mansion 22, Cawasji Patel Street and 48/54, Janmabhoomi Marg, Fort, Mumbai-400001″;

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), –

  1. hereby specifies the scheme or project for Recycle Recover Reuse of plastic waste in an eco-friendly manner, which is being carried out by Indian Centre for Plastics in the Environment, 205, Hari Chambers, Shahid Bhagat Singh Road, Mumbai-400023, without any change in the approved cost of Rs. 1000.00 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2006-07 ; and

  2. further amends the said Notification Number S.O. 1124(E), dated the 29th September, 2003, to the following effect, namely :-

In the said notification, in the Table against serial number 10, in column (1) relating to the name of Institution, for the entry “Indian Centre for Plastics in the Environment, 205, Hari Chambers, Shahid Bhagat Singh Road, Mumbai-400023” the entry “Indian Centre for Plastics in the Environment, 2nd Floor, Kushesh Mansion 22, Cawasji Patel Street and 48/54, Janmabhoomi Marg, Fort, Mumbai-400001” shall be substituted.

[F. No. NC-274/2/2006]

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