SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – KAILASH CHARITABLE TRUST, NOIDA
NOTIFICATION NO.94/2011[F.NO.V-27015/3/2011-SO(NAT.COM]/S.O.1873(E), DATED 11-8-2011
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-19, NOIDA-201301, as an eligible project or scheme for a period of three years beginning with assessment year 1996-1997, 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 2003-2004; 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 2005-2006 and which was extended further vide Notification number S.O. 649(E), dated the 22nd March, 2010 for a period of three years beginning with financial year 2008-09;
And whereas by Notification number S.O. 212(E), dated the 16th March, 1998 the estimated cost was amended from Rs.40 lakh to Rs.75 lakh which was further extended vide S.O. 1163(E), dated 16-7-2007, the estimated cost was amended from Rs. 75.00 lakh to Rs. 1.50 crore.
And whereas the said project or scheme is likely to extend beyond fifteen 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 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), – (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-19, NOIDA-201301 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 with the financial year 2011-12 i.e., 2011-12, 2012-13, 2013-14.
