U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Vidya Pratishthan, Maharashtra - 34/2015 - Income Tax

NOTIFICATION NO. 34/2015 DATED 6-1-2015 S.O. 85(E) - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 458(E) dated the 30th March, 2006, 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, Sustainable development through biotechnology by Vidya Pratishthan, Vidyanagari, Bhigwan Road, Baramati, Pune - 413133, Maharashtra , as an eligible project or scheme, at estimated cost of ₹ 13.94 crore for a period of three years beginning with financial year 2005-2006; which was extended vide notification number S.O. 2371(E) dated 3rd October, 2008 for further period of three years beginning with financial year 2008-09; and which was further extended for further three years vide notification number 873(E) dated 27th April, 2011, ending with financial year 2013-14; And whereas the said project or scheme is likely to extend beyond nine 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), hereby notifies the scheme or project Sustainable development through biotechnology which is being carried out by Vidya Pratishthan, Vidyanagari, Bhigwan Road, Baramati, Pune - 413133, Maharashtra , without any change in the approved cost of ₹ 13.94 crore, BS 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. [F.NO.V.27015/3/2014-SO(NAT.COM)]