U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Pragun Jindal Educational Organisation, Barngalore - 107/2011 - Income Tax

NOTIFICATION NO. 107/2011 New Delhi, the 18 th October, 2011 S. O. 2401 - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 121(E) dated 12 th January, 2009 , 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 19, Expansion of Jindal Pre University College to Jindal Rural college by Pragun Jindal Educational Organisation, Chikabidarakallu village, Taluka Nelmangala, Dasanpura Hobli, District Barngalore-560073, as an. eligible project or scheme for a period of three years beginning with financial year 2008-09; And whereas by notification number S.O.1796(E) dated the 21 st July, 2010 the estimated cost was amended from ₹ 14 crore to ₹ 29 crore including a corpus fund of ₹ 10 crone; And whereas the said project or scheme is likely to extend beyond three 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 11 M of the Income-tax Rules, 1962 for extending the said project or scheme for a further period of three year 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 specifies the scheme or project Expansion of Jindal Pre University College to Jindal Rural college , is being carried out by Pragun Jindal Educational Organisation, Chikabidarakallu village, Taluka Nelmangala, Dasanpura Hobli, District Bangalore- without any change in the approved cost of ₹ 29.00 crore including corpus fund of ₹ 10 crore i.e Rs. 11 crore for non-recurring expense, ₹ 8 crore for recurring expense. and ₹ 10 crore as corpus fund, as an eligible project or scheme for a further period of three years commencing with financial year 2011-12 i.e 2011-12, 2012-13 2013-14. [F. No. V 27015/4/2011-SO(NAT.COM)] NAVEEN CHANDRA, Director (National Committee)