U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Tata Sponge Iron Limited, Orissa - 117/2011 - Income Tax

NOTIFICATION NO. 117/2011 New Delhi, the 18 th October, 2011 S.O. 2411(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.97(E) dated the 11 th February, 1999, 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 ad specified at serial number 2, for Digging of tube wells for, providing potable drinking water, repairing of schools, promotion/improvement of agricultural activities-and providing medical facilities in various villages in Keonjhar District of Orissa by Tata Sponge Iron Limited, P.O: Joda, Distt. Keonjhar, Orissa, 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.1270(E) dated the 28 th December, 2001 for a period of three years beginning with assessment year 2002-2003, which was extended further vide notification number S.O.794(E) dated the 5 th July, 2004 for a period of three years ,beginning with financial year 2004-2005 which was extended further vide notification number S.O.476(E) dated 29.3.2007 fora period of three years beginning with financial year 2007-08 and which was extended further vide notification number S.O. 1136(E) dated 17.5.2010 for a further period of three years beginning with the financial year 2010-11; And whereas vide notification number S.O.1270(E) dated the 12 th December, 2001 the estimated cost was enhanced from ₹ 10.00 lakhs to ₹ 30.00 lakhs and vide notification number S.O.384(E) dated the 23 rd March, 2005 the estimated cost was enhanced from ₹ 30.00 lakhs to ₹ 56.00 lakhs and vide notification number S.O. 476(E) dated 29.03.2007 the estimated cost was enhanced from ₹ 56.00 lakh to ₹ 1.66 crore and vide notification number S.O. 1136(E) dated 17 th May, 2010 the estimated cost was enhanced from ₹ 1.66 crore to ₹ 3.16 crone; And whereas the said project or scheme is likely to extend beyond twelve 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 specifying. the said project or scheme to cover additional activities to fulfill the basic requirements of the needy nearby village people; 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 for Digging of tube-wells for providing potable drinking water, repairing of schools, promotion/improvement of agricultural activities and providing medical facilities in various villages in Keonjhar District of Orissa, which is being carried out by Tata Sponge Iron Limited, P.O. Joda, Distt. Keonjhar, Orissa, without any change in the approved cost of ₹ 3.16 crore as an eligible project or scheme. (b) further amends the said notification number S.O. 97(E) dated the 11 th February, 1999 , to the following effect, namely In the said notification, in the Table against serial number 2, in column (3) the following additional activities (i) Construction maintenance of drinking water projects. (ii) Development of infrastructure facilities for education. (iii) Sanitation and prevention of diseases (iv) Rural electrification through renewable source of energy. (v) Development of community centers and repairing of village roads. (vi) Organizing sports and cultural activities may also be read along with the already approved four activities. The above additional activities shall be within the already approved cost of ₹ 3.16 crore. [F. No. V-27015/4/2011-SO (NAT.COM)] NAVEEN CHANDRA, Director (National Committee)