Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible projects or schemes, expenditure on - Mr.Omayal Achi Mr. Arunachalam Trust, Chennai - F.No.V-27015/1/2012-SO - Income Tax

Notification No.4/2012 [F.No.V-27015/1/2012-SO] dated 16/03/2012 Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible projects or schemes, expenditure on - Mr.Omayal Achi Mr. Arunachalam Trust, Chennai S.O. 459(E)- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.606(E) dated the 7 th June, 2002, 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 1, "Running of Omayal Achi Community Health Centre at Arakambakkam'" by Mr. Omayal Achi Mr. Arunachalam trust, Coral Manor, 'A' Ground Floor, 40-41, Second Main Road, Raja Annamalaipuram, Chennai - 600028, as an eligible project or scheme for a period of three years beginning with assessment year 2002-03, which was extended further vide notification number S.O.512(E) dated the 9th April, 2004 for a period of three years beginning with financial year 2003-04; which was extended further vide notification number S.O.999(E) dated the 5th July, 2006 for a period of three years beginning with financial year 2006-07 and which was extended further vide notification number S.O.835(E) dated the 25th March, 2009 for a period of three years beginning with financial year 2009-10; And whereas the said project or scheme is likely to extend beyond twelve years; And whereas by notification number S.O.999(E) dated the 5th July, 2006 the estimated cost was enhanced from Rs. 52.00 lakh including a corpus fund of Rs. 40.00 lakh to Rs. 75.00 lakh including a corpus fund of Rs. 63.00 lakh; vide notification number S.O.845(E) dated 27th April, 2011 the estimated cost was enhanced from Rs. 75 lakh including a corpus fund of Rs. 63 lakh to Rs. 125 lakh including a corpus fund of Rs. 63 lakh; 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 "Running of Omayal Achi Community Health Centre at Arakambakkam" which is being carried out by Mr. Omayal Achi Mr. Arunachalam Trust, Coral Manor, 'A' Ground Floor, 40-41, Second Main Road, Raja Annamalaipuram, Chennai - 600028, without any change in the approved cost of Rs. 125 lakh including a corpus fund of Rs. 63.00 lakh, as an eligible project or scheme for a further period of three years commencing with financial year 2012-13 i.e. 2012-13, 2013-14 2014-15.