U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – The Cancer Institute (WIA) Trust, Chennai - 94/2015 - Income Tax

NOTIFICATION NO. 94/2015 DATED 11-2-2015 S.O. 464 (E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.96(E) dated the 11th February, 1999, i ssued 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 9, for Providing free food and anti-Cancer drugs to poor cancer patients in General wards of Cancer Institute at Chennai, Tamilnadu by the Cancer Institute (WIA) Trust, East Canal Bank Road, Gandhi Nagar, Adyar, Chennai-600020 , as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000; which was extended further vide notification number S.O.920(E) dated the 20th September, 2001 for a period of three years beginning with assessment year 2002-2003; which was extended further vide notification number S.O. 130(E) dated the 2nd February, 2005 for a period of three years beginning with financial year 2004-2005; which was extended further vide notification number S.O. 470(E) dated the 29th March, 2007 for a period of three years beginning with financial year 2007-08; which was extended further vide notification number S.O. 1142(E) dated the 17th May, 2010 for a period of three years beginning with financial year 2010-11 and which, was further extended vide notification number S.O. 3149(E) dated 17.10.2013 for a period of three years ending with financial year 2015-16; Whereas by notification number S.O.841(E) dated the 25th March, 2009 , the estimated cost was enhanced from ₹ 6.50 crore as corpus fund to ₹ 9.40 crore as corpus fund and which was further enhanced from 'Rs.9.40 crore as corpus fund' to 'Rs. 14.60 crore as corpus fund' vide notification number 1876(E) dated 11.8.2011 ; And whereas the project cost is likely to enhance from 'Rs. 14.60 crore as corpus fund' to 'Rs. 20.00 crore as corpus fund'; 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. 14.60 crore as corpus fund' to 'Rs. 20.00 crore as corpus fund'. 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. 96(E) dated the 11th February, 1999 , to the following effect, namely:- In the said notification, in the Table against serial number 9, in column (4), relating to maximum amount of cost to be allowed as deduction under section of 35AC of Income Tax Act, 1961 for the letters, figures and word Rs. 14.60 crore as corpus fund the letters, figures and word Rs. 20,00 crore as corpus fund shall be substituted. [F.NO.V.27015/3/2014-SO(NAT.COM)]