Exemption u/s 35AC - notified at serial number 10, "Welfare schemes like development schools, development colleges, scholarships, drinking water, community health, adult education handloom or weaving, afforestation, agriculture, development of villages, sports and culture, vocational training or sel - 26/2009- S.O. 763(E) - Income Tax

Exemption u/s 35AC - notified at serial number 10, Welfare schemes like development schools, development colleges, scholarships, drinking water, community health, adult education handloom or weaving, afforestation, agriculture, development of villages, sports and culture, vocational training or self employment schemes etc. by Bongaigaon Refinery petrochemicals Limited, District Bongaigaon, Assam , as an eligible project or scheme for a period NOTIFICATION NO. 26/2009 DATED, 18-3-2009 S.O. 763(E). - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1586(E) dated the 11th November, 2005, 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 10, Welfare schemes like development schools, development colleges, scholarships, drinking water, community health, adult education handloom or weaving, afforestation, agriculture, development of villages, sports and culture, vocational training or self employment schemes etc. by Bongaigaon Refinery petrochemicals Limited, PO - Dhaligaon, District Bongaigaon, Assam - 783385, as an eligible project or scheme for a period of three years beginning with financial year 2005-2006. And, whereas, the said project or scheme is likely to extend beyond three 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 ₹ 3.90 crore to ₹ 8.30 crore; 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), - (c) hereby notifies the scheme or project Welfare scheme like development schools, development colleges, scholarships, drinking water, community health, adult education handloom or weaving, afforestation, agriculture, development of villages, sports and culture, vocational training or self employment schemes etc, being carried out by Bongaigaon Refinery Petrochemicals Limited, PO - Dhaligaon, District Bongaigaon, Assam - 783385 for a period of three more years beginning with financial year 2008-2009 i.e., 2008-2009, 2009-2010 and 2010-2011. (d) further amends the said notification numbers S.O. 1586(E), dated the 11th November, 2005, to the following effect, namely:- In the said notification, in the Table against serial number 10, in column (4), relating to maximum cost for which allowed, for the letters, figures and word ₹ 3.90 crore the letters, figures and word ₹ 8.30 crore shall be substituted. [F.No. NC-274/04/2009]