Exemption u/s 35AC - notified at serial number 7, "Expansion Project-purchase of equipments for increasing number of surgeries and running of Hospital by Lions Club of Karnavati Foundation, Ahmedabad, as an eligible project or scheme - 49/2009 - Income Tax

Exemption u/s 35AC - notified at serial number 7, "Expansion Project-purchase of equipments for increasing number of surgeries and running of Hospital by Lions Club of Karnavati Foundation, Ahmedabad, as an eligible project or scheme NOTIFICATION New Delhi , the 25th March, 2009 S.O. 848(E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.497(E) dated the 26th May, 2000, 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 notified at serial number 7, "Expansion Project-purchase of equipments for increasing number of surgeries and running of Hospital at Village-Ognaj, Ahmedabad, Gujarat" by Lions Club of Karnavati Foundation, At Post-Village Ognaj, Village Ognaj, District-Ahmedabad - 382421, as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002, which was extended further vide notification number S.O.528(E) dated the 9th May, 2003 for a period of three years beginning with assessment year 2004-2005 and which was extended further vide notification number S.O.244(E) dated the 15th February, 2007 for a period of three years beginning with financial year 2006-2007; And whereas the said project or scheme is likely to extend beyond nine 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 "Expansion Project- purchase of equipments for increasing number of free eye surgeries and running of Hospital at Village-Ognaj, Ahmedabad, Gujarat" being carried out by Lions Club of Karnavati Foundation, At Post-Village Ognaj, District-Ahmedabad - 382421, without any change in the approved cost of Rs.437.50 lakh including a corpus fund of Rs. 150.00 lakh, as an eligible project or scheme for a further period of three years beginning with financial year 2009-2010 i.e. 2009-2010,2010-2011 2011-2012. [No.49/2009/F No. NC-274/04/2009] NAVEEN CHANDRA, Director (National Committee)