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. 6/2009 [F. NO. V-27015/5/2009-SO (NAT.COM)]/ S.O. 639(E), DATED 22-3-2010

WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 366(E), dated the 10th April, 2000, 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 3, “Construction of extension building, purchase of equipments instruments, mobile van, furnishing and running of Kanoria Hospital and Research Centre at Gandhi Nagar, Gujarat” by Kanoria Seva Kendra, 307, Abhijeet Netaji Marg, Ellisbridge, Ahmedabad, Gujarat, as an eligible project or scheme for a period of three years beginning with assessment year 2000-01, which was extended further vide notification number S.O. 981(E), dated the 10th September, 2002 for a period of three years beginning with assessment year 2003-04, which was extended further vide notification number S.O. 506(E), dated the 4th April, 2006 for a period of three years beginning with financial year 2005-06; and which was further extended vide notification number S.O. 244(E), dated the 21st January, 2009 for a period of three years beginning with financial year 2008-09;

AND WHEREAS the said project or scheme is likely to extend beyond nine 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. 161.81 lakh to Rs. 381 lakh.

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), in respect of the scheme or project “Construction of extension building, purchase of equipments, instruments, mobile van, furnishing and running of Kanoria Hospital and Research Centre at Gandhi Nagar, Gujarat” being carried out by Kanoria Hospital and Research Centre at Gandhi Nagar, Gujarat by Kanoria Seva Kendra, 307, Abhijeet Netaji Marg, Ellisbridge; Ahmedabad, Gujarat, amends the said notification number S.O. 366(E), dated the 10th April, 2000, to the following effect, namely :—

In the said notification, in the Table against serial number 3, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word “Rs. 161.81 lakhs”, the letters, figures and word “Rs. 381 lakhs” shall be substituted.

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