U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Polio Foundation, Ahmedabad - 32/2015 - Income Tax

NOTIFICATION NO. 32/2015 DATED 6-1-2015 S.O. 83(E) - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.399(E) dated the 6th June, 1996 , 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 8, Equipments and running of Polio Hospital at Ahrnedabad, Gujarat by Polio Foundation, Shah Chimenlal Chhotalal Lokandwala Charitable Trust Hospital for the Handicapped, Raipur, Chekla, Ahrnedabad - 1 , as an eligible project or scheme, at the estimated cost of ₹ 63.15 lakh for a period of three years beginning with assessment year 1997-1998, which was extended further vide notification number S.O.324(E) dated the 11th May, 1999 for a period of three years beginning with assessment year 2000-2001, which was extended further vide notification number S.O.614(E) dated the 7th June, 2002 for a period of three years beginning with assessment year 2003-2004, which was extended further vide notification number S.O.153(E) dated the 3rd February, 2006 for a period of three years beginning with financial year 2005-2006; which was extended further vide notification number S.O. 1306(E) dated the 4th June, 2008 for a period of three years beginning with financial year 2008-2009; and which-was further extended vide notification number S.O. 861 (E) dated 27.4.2011 for a period of three years ending with financial year 2013-14; And whereas by notification number S.O.324(E) dated the 11th May, 1999 the estimated cost was enhanced from ₹ 63.15 lakh to ₹ 71.50 lakh; vide notification number' S.O.153(E) dated the 3rd February,-2006'the estimated cost was further enhanced from. ₹ 71.50 lakh to ₹ 151.35 lakh; vide notification number S.O.845(E) dated 25th March, 2009 the estimated cost was further enhanced from 151.35 lakh to ₹ 3 crore; and vide notification number S.O. 3067(E) dated 30th December, 2010 the estimated cost was further enhanced from 3.00 crore to 7.55 crore; And whereas the said project or scheme is likely to extend beyond eighteen years; And whereas the project cost is likely to enhance from ₹ 7.55 crore' to '₹ 13.55 crore; 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 and also enhancing the project cost from ₹ 7.55 crore' to '₹ 13.55 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 Equipments and running of Polio Hospital at Ahmedabad, Gujarat , which is being carried out by Polio Foundation, Shah Chimenial Chhotalal Lokandwala Charitable Trust Hospital for the Handicapped, Raipur, Chekla, Ahmedabad - 1 , as an eligible project or scheme for a further period of three years commencing with the financial year 2014-15, i.e., 2014-15,2015-16 and 2016-17; and (b) Further amends the said notification number S.O. 399 (E) dated the 6th June, 1996 , to the following effect, namely :- In the said notification, in the Table against serial number 8, in column (4), relating to maximum cost to be allowed as deduction under section 35AC , for the letters, figures and word ₹ 7.55 crore' the letters, figures and word ₹ 13.55 crore shall be substituted. [F.NO.V.27015/3/2014-SO(NAT.COM)]