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

NOTIFICATION NO. 16/2009 [F. NO. V-27015/5/2009-SO (NAT.COM)]/ S.O. 649(E), DATED 22-3-2010

WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 973(E), dated the 14th December, 1995, 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 13, for running of free medical aid services at NOIDA by Kailash Charitable Trust, C-320, Sector-91, NOIDA – 201 301, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97, which was extended further vide notification number S.O. 212(E), dated the 16th March, 1998 for a period of three years beginning with assessment year 1999-2000, which was extended further vide notification number S.O. 982(E), dated the 10th September, 2002 for a period of three years beginning with assessment year 2003-04 and which was extended further vide notification number S.O. 141(E), dated the 3rd February, 2006 for a period of three years beginning with financial year 2005-06;

AND WHEREAS by notification number S.O. 212(E), dated the 16th March, 1998 the estimated cost was amended from Rs. 40 lakhs to Rs. 75 lakhs which was further extended vide S.O. 1163(E), dated 16-7-2007, the estimated cost was amended from Rs. 75 lakhs to Rs. 1.50 crore;

AND WHEREAS the said project or scheme is likely to extend beyond twelve 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. 75 lakh to Rs. 1.50 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 for running of free medical aid services at NOIDA, which is being carried out by Kailash Charitable Trust, C-320, Sector-91, NOIDA – 201 301 without any change in the approved cost of Rs. 1.50 crore, as an eligible project or scheme for a further period of three years commencing from financial year 2008-09 i.e., 2008-09, 2009-10, 2010-11 with a direction that since the financial year 2008-09 has lapsed therefore, no certificate under section 35AC can be issued for financial year 2008-09.

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