U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Lions Cancer Detection Centre Trust, Gujarat - 23/2014 - Income Tax

NOTIFICATION NO. 23/2014 DATED 31-7-2014 S.O. 1946(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1052(E) dated 11.05.2010 issued under 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 13, Lions Cancer Detection Centre- Surat Project for Linear Accelerator by Lions Cancer Detection Centre Trust Government Medical College Campus Majura Gate, Surat - 39500, Gujarat , as an eligible project or scheme, at the estimated cost of 15.00 crore including a corpus fund of 3.25 crore, for a period of three years ending with financial year 2012-13, which was further extended vide notification number 3167(E) dated 17.10.2013 ending with financial year 2015-16; And whereas the project cost is likely to enhance from 15.00 crore including a corpus fund of 3.25 crore to 29 crore including corpus fund of 10 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 , enhancing the project cost from 15.00 crore including a corpus fund of 3.25 crore to 29 crore including corpus fund of 10 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) , hereby amends the said notification number S.O. 1052(E) dated 11.05.2010 , to the following effect, namely:- In the said notification, in the Table against serial number (3) (SIC) , in column (4), relating to maximum amount of cost to be allowed as deduction under Section 35AC, for the letters, figures and words 15.00 crore including a corpus fund of 3.25 crore , the letters, figures and words 29 crore including corpus fund of 10 crore , shall be substituted . [F.NO.V.27015/1/2014-SO(NAT.COM)]