Notification u/s 35AC - Notifies the scheme or project "Treatment of Cancer, Kidney Failure (dialysis) and Eye diceases for Tribal", which is being carried out by Shantilal Shanghvi Foundation, FP 145, Ram Mandir Road, Vile Parle (East), Mumbai - 123/2012 - Income Tax

NOTIFICATION NO. 123/2012 DATED 12-3-2013 SO 652(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2545(E), dated 6th October, 2009 , 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 18, "Treatment of Cancer, Kidney Failure (dialysis) and Eye diceases for Tribal" by Shantilal Shanghvi Foundation, FP 145, Ram Mandir Road, Vile Parle (East), Mumbai - 400 057, as an eligible project or scheme for a period of three years beginning with financial year 2009-10 and which was extended further vide notification number S.O. 479(E), dated 16th March, 2012 for a period of three years beginning with financial year 2012-13; And whereas vide notification number S.O. 479(E), dated 16th March, 2012 the estimated cost was enhanced Rs. 10.29 crore to Rs. 19.77 crore. And whereas the said project or scheme is likely to extend beyond six 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 amending the project cost from Rs. 19.77 crore to Rs. 24.77 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 notifies the scheme or project "Treatment of Cancer, Kidney Failure (dialysis) and Eye diseases for Tribal", which is being carried out by Shantilal Shanghvi Foundation, FP 145, Ram Mandir Road, Vile Parle (East), Mumbai - 400 057; (b) further amends the said notification number S.O. 2545(E), dated 6th October, 2009 , to the following effect, namely :- "In the said notification, in the Table against serial number 18, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and word 'Rs. 19.77 crore', the letters, figures and word 'Rs. 24.77 crore' shall be substituted". [ F. NO. V- 27015/4/2012-SO(NAT.COM)]