Notification u/s 35AC - Amendment the Notification Number S.O. 258(E), dated the 22nd March, 2001. - 39/2013 - S.O. 3157(E) - Income Tax

NOTIFICATION NO. 39/2013 DATED 17-10-2013 S.O. 3157(E) - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 258(E), dated the 22nd March, 2001 , 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 7, "Construction of building, furnishing, purchase of equipments, water works of Kailash Cancer Hospital and Research Centre at District Vadodara, Gujarat" by "Muni Seva Ashram, Goraj - 391 760, Tal. Vaghodia, District Vadodara, Gujarat", as an eligible project or scheme for a period of three years beginning with assessment year 2001-02, which was extended further vide notification number S.O. 130(E), dated the 29th September, 2003 for a period of three years beginning with assessment year 2004-05, which was extend further vide notification number S.O. 240(E), dated the 15th September, 2007 for a period of three years beginning with financial year 2006-07, which was extended further vide notification number S.O. 1259(E), dated 18th May, 2009 for a period of three years beginning with financial year 2009-10; and which was extended further vide notification number S.O 1084(E), dated 14th May, 2012 for a period of three years ending with financial year 2014-15. 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 enhancing the said project cost; 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 amends the said notification number S.O. 258(E), dated the 22nd March, 2001 , to the following effect, namely :- In the said notification, in the Table against serial number 7, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and words "Rs. 21.18 crore", the letters, figures and words "Rs. 71.18 crore" shall be substituted. [F.NO.V-27015/2/2013-SO (NAT.COM)]