SECTION 35AC, READ WITH EXPLANATION (B) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – SOSVA TRAINING & PROMOTION INSTITUTE, PUNE
NOTIFICATION NO. 51/2011[F.NO. V-27015/2/2011-SO (NAT.COM)]/S.O. 1371(E), DATED 14-6-2011
Whereas by Notification of the Government of India in the Ministry of Finance (Department of Revenue) Number S.O.708(E), dated the 25th May, 2005, 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 15, “Project for capacity building of voluntary sector” by SOSVA Training and Promotion Institute Mhada Commercial Complex, MHB Colony, Yarwada, Pune-411006, as an eligible project or scheme for a period of three years beginning with financial year 2005-06 and which was extended further vide Notification Number S.O. 1465(E), dated 17th June, 2008 for a period of three years beginning with financial year 2008-09;
And whereas the said project or scheme is likely to extend beyond six 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), hereby notifies the scheme or project “Project for capacity building of voluntary sector” being carried out by SOSVA Training and Promotion Institute Mhada Commercial Complex, MHB Colony, Yarwada, Pune-411006, without any change in the approved cost of Rs. 70.00 lakh, 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 and 2013-14.
