NOTIFICATION NO. 78/2010 – Section 35AC(1), read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes
NOTIFICATION NO. 78/2010 [F. NO. V-27015/3/2010-SO(NAT.COM)]/S.O. 2524(E), DATED 11-10-2010
WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1145(E) dated 16th July, 2007, 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 2, Sainik Ashram by Kerala Ex-Servicemen Welfare Association (KEXWA) Civil Station – Kunnumpuram Road, P.O. Kakkanad, Kochi – 682 030, Kerala, as an eligible project or scheme for a period of three years beginning with the financial year 2007-08;
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 two 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 specifies the scheme or project “Sainik Ashram”, is being carried out by Kerala Ex-Servicemen Welfare Association (KEXWA) Civil Station, Kunnumpuram Road, P.O. Kakkanad, Kochi-682 030, without any change in the approved cost of Rs. 1.65 crore, as an eligible project or scheme for a further period of the two financial years commencing with 2010-11, i.e., 2010-11 and 2011-12.