Notification Under Section 35AC in respect of Vidya Pratisbthan, Vidyanagari, Bhigwan Road, Baramati, Pune. - 32/2011 - Income Tax

Notification Under Section 35AC in respect of Vidya Pratisbthan, Vidyanagari, Bhigwan Road, Baramati, Pune. NOTIFICATION New Delhi, the 27 th April, 2011 S.O. 873(E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.458(E) dated the 30 th March, 2006, 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, Sustainabk development through biotechnology by Vidya Pratisbthan, Vidyanagari, Bhigwan Road, Baramati, Pune - 413133, Maharashtra, as an eligible project or scheme for a period of three years beginning with, financial year 2005-2006 and which was extended further vide notification number S.O. 237(E) dated 3 rd October, 2008 for further period of three years beginning with financial year 2008-09; And whereas the said project or scheme is likely to extend beyond six 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 Sustainable development through biotechnology which being carried out by Vidya Pratishthan, Vidyanagari, Bhigwan Road, Baraniati, Pune 413133, Maharashtra, without any change in the approved cost of Rs. 13.94 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2011-12 i.e 2011-12,2012-13 2013-14. [No.32/2011/F.No. V-27015/1/2011-SO (NAT.COM)] NAVEEN CHANDRA, Director (National Committee)