Exemption u/s 35AC - Central Government had specified for conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat, by Karuna Trust, Ahmedabad, as an eligible project or scheme - Amendment in Notification No. S. 0. 92(E), dated 2nd February, 1962 - S.O.539(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat, by Karuna Trust, Ahmedabad, as an eligible project or scheme - Amendment in Notification No. S. 0. 92(E), dated 2nd February, 1962 NOTIFICATION NO. S.0.539(E) DATED 20-6-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 92(E), dated 2nd February, 19962, issued under 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 5, for conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat, by Karuna Trust, 22, Gautam Nagar, Near Narapura-Railway Crossing, Ahmedabad-13, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97 which was extended further vide Notification Number S.O. 57(E), dated the 16th January, 19981 for a period of three years beginning with the assessment year 1999-2000; And whereas the said project or scheme is likely to extend beyond six years; And whereas the National Committee has, being satisfied that the 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 specifying the said project or scheme for a further period of three years and amending the project cost from Rs. 94 lakhs to Rs. 128 lakhs; 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 specifies the scheme or project of conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat which is being carried out by Karuna Trust, 22, Gautam Nagar, Near Narapura-Railway Crossing, Ahmedabad-13, as an eligible project or scheme for a further period of three years beginning with the assessment year 2002-2003; and ( b ) further amends the said Notification No. S. 0. 92(E), dated 2nd February, 19962, to the following effect, namely: In the said notification, in the table against serial number 5, in column (4) relating to maximum cost for which allowed, for the letters, figures and word Rs. 94 lakhs , the letters, figures and word Rs. 128 lakhs shall be substituted. [No. 153-2001-F. No. N.C. 61-2001]