U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On – Arpan Trust, 2, Bombay - S.O. 3051(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 241/2015 New Delhi, the 10 th November, 2015 S.O. 3051(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.839(E) dated the 22 nd November, 1994 , 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 specified at serial number 12, Running of Arpan Eye Bank at Ghatkopar(E), Bombay , by Arpan Trust, 2, Poonam, 160, R.B. Mehta Marg, Ghatkopar (E), Bombay-400077 , as an eligible project or scheme for a period of three years beginning with assessment year 1995-1996, which was extended further vide notification number S.O.212(E) dated the 17 th March, 1997 for a period of three years beginning with assessment year 1998-99, which was extended further vide notification number S.O.855(E) dated the 21st September, 2000 for a period of three years beginning with assessment year 2001-2002, which was extended further vide notification number S.O.1254(E) dated the 30th October, 2003 for a period of three years beginning with assessment year 2004-2005, which was extended further vide notification number S.O.243(E) dated the 15th February, 2007 for a period of three years beginning with financial year 2006-2007, which was extended further vide notification number S.O. 2052 (E) dated 6th August, 2009 for a period of three years beginning with financial year 2009-10 and which was extended further vide notification number S.O.2417(E) dated the 9.10.2012 for a period of three years ending with financial year 2014-15; And whereas by notification number S.O.855(E) dated the 21st September, 2000, the estimated cost was enhanced from ₹ 4.56 lakh to ₹ 7.5 lakh, vide notification number S.O.1254(E) dated the 30th October, 2003 the estimated cost was enhanced from ₹ 7.5 lakh to ₹ 13.50 lakh, which was further enhanced vide notification number S.O.467(E) dated the 29th March, 2007 (SIC) from ₹ 13.50 lakhs to ₹ 27.00 lakh and vide notification number S.O. 2052 (E) dated 6th August, 2009 the estimated cost was enhanced from ₹ 27.00 lakh to ₹ 54 lakh; And whereas the said project or scheme is likely to extend beyond twenty one 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 Running of Arpan Eye Bank at Ghatkopar (E), Bombay , which is being carried out by Arpan Trust, 2, Poonam, 160, R.B. Mehta Marg, Ghatkopar (E), Bombay-400077 , without any change in the approved cost of ₹ 54.00 lakh, as an eligible project or scheme for a further period of three years commencing with financial year 2015-16 i.e 2015-16, 2016-17 2017-18. [F.No.V. 27015/3/2015-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee)