Exemption u/s 35AC - Central Government had notified "Eye Operation, equipments/instrument for Sarvoday Eye Hospital/Eye Camps at Radhanpur, Gujarat and Rajasthan" as an eligible project or scheme. - 03/2009/S.O. 232(E) - Income Tax

Exemption u/s 35AC - Central Government had notified "Eye Operation, equipments/instrument for Sarvoday Eye Hospital/Eye Camps at Radhanpur, Gujarat and Rajasthan" as an eligible project or scheme. NOTIFICATION New Delhi , the 21st January, 2009 S.O. 232(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.399(E) dated the 6th June, 1996, issued under clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961(43 of 196l) the Central Government had notified at serial number 7, "Eye Operation, equipments/instrument for Sarvoday Eye Hospital/Eye Camps at Radhanpur, Gujarat and Rajasthan" by Sarvoday Arogya Nidhi, Highway, Radhanpur, (Banas Kantha),Gujarat-385340, as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998, which was extended further vide notification number S.O.869(E) dated the 21st September, 2000 for a period of three years beginning with assessment year 2000-201, which was extended further vide notification number S.O. 531(E) dated the 9 th May, 2003 for a period of three years beginning with the assessment year 2004-2005, and which was extended further vide notification number S.O.1825(E) dated the 26 th October, 2006 for a period of three years beginning with financial year 2006-2007; And, whereas, the said project or scheme is likely to extend beyond twelve years; And, whereas, the National Committee for the 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 and amending the project cost from Rs.67.00 lakh to Rs. 125.00 lakh; Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b)of the Explanation to Section35AC, of the Income-tax Act, 1961 (43 of 1961),- (a) hereby notifies the scheme or project "Eye Operation, equipments/instrument for Sarvoday Eye Hospital/Eye Camps at Radhanpur, Gujarat and Rajasthan" being carried out by Sarvoday Arogya Nidhi, Highway. Radhanpur; (Banas Kantha), Gujarat 385340 for a period of three more years beginning with financial year 2009-2010 i.e. 2009-2010,2010-2011 and 2011-2012. (b) further amends the said notification number S.O. 399(E) dated the 6th June, 1996, to the following effect, namely:- In the said notification, in the Table against serial number 7, in column (4), relating to maximum cost for which allowed, for the letters, figures and word "Rs. 67.00 lakh" the letters, figures and word "Rs.125.00 lakhs" shall be substituted. [No.3/2009/F.No. NC-274/17/2008] NAVEEN CHANDRA, Director (National Committee)