Notification u/s 35AC - Notifies the scheme CRY Supported Development project all over India - 42/2012 - Income Tax

Notification No. 42/2012 Dated : 14.05.2012 S.O. 1075 (E)- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S. O. 388(E), dated 19th May, 1997, 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 24, CRY Supported Development project all over India , by CRY (Child Relief and you), DDA Slum Wing Barat Ghar, Bapu Park, Kotla Mubarakpur, New Delhi, as an eligible project or scheme for a period of three years beginning with the assessment year 1998-99, which was extended further vide notification number S. O. 634(E), dated 5th July, 2000 , for a period of three years beginning with the assessment year 2001-02, which was extended further vide notification number S. O. 692(E), dated 13th June, 2003, for a period of three years beginning with the assessment year 2004-05, which was extended further vide notification number S.O. 1415(E), dated 4th September, 2006 , for a period of three years beginning with the financial year 2006-07 and which was extended further vide notification number S.O. 2049(E), dated 6th August, 2009 , for a period of three years beginning with the financial year 2009-10 ; And whereas by notification number S. O. 634(E), dated 5th July, 2001, the estimated cost was enhanced from 1650.00 lakh to 2773.00 lakh, which was further enhanced vide notification number S. O. 692(E), dated 13th June, 2003 from 2773.00 lakh to 5373.00 lakh, which was further enhanced vide notification number S. O. 146(E), dated 3rd February, 2006 from 5373.00 lakh to 5873.00 lakh and which was further enhanced vide notification Number S. O. 1415(E), dated the 4th September, 2006 , from : 5873.00 lakh to 120.85 crore, vide notification number S. O. 2049(E), dated 6th August 2009 , the estimated cost was further enhanced from 120.85 crore to 188.39 crore ; And whereas the said project or scheme is likely to extended 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 specifying 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 notifies the scheme or project CRY Supported Development project all over India , which is being carried out by CRY (Child Relief and you), DDA Slum Wing Barat Ghar, Bapu Park, Kotla Mubarakpur, New Delhi, without any change in the approved cost of 188.39 crore, as an eligible project or scheme for a further period of three years with the financial year 2012-13, i.e., 2012-13, 2013-14 and 2014-15. [F. No. V. 27015/2/2012-SO (NAT.COM)]