Notification Under Section 35AC in respect of Jamia Islamia Ishaatul Uloom, Amlibari Molgi Road, District Nandurbar, A/P. Akkalkuwa, Maharashtra. - 096/2011 - Income Tax

NOTIFICATION NO.96/2011 DATED 11-8-2011 S.O. 1875(E):- Whereas by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2370(E), dated 3rd October, 2008, issued under 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 35, "Pre-primary and primary school" by Jamia Islamia Ishaatul Uloom, Amlibari Molgi Road, District Nandurbar, A/P. Akkalkuwa, Maharashtra - 425 415, as an eligible project or scheme for a period of three years beginning with financial year 2008-09; And whereas the said project or scheme is likely to extend beyond three 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 and amending the project cost from Rs. 10 crore to Rs. 15 crore including a corpus fund of Rs. 2 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), ( a ) hereby notifies the scheme or project "Pre-primary and primary school", which is being carried out by Jamia Islamia Ishaatul Uloom, Amlibari Molgi Road, District Nandurbar, A/P. Akkalkuwa, Maharashtra-425 415, as an eligible project or scheme for a further period of three financial years commencing with the financial year 2011-12 i.e. , 2011-12, 2012-13 2013-14. ( b ) further amends the said Notification number S.O.2370(E), dated the 3rd October, 2008, to the following effect, namely: In the said Notification, in the Table against serial number 35, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC of Income-tax Act, 1961 for the letters, figures and word "Rs. 10 crore" the letters, figures and word "Rs. 15 crore including a corpus fund of Rs. 2 crore." shall be substituted. [F.NO.V-27015/3/2011-SO(NAT.COM]