Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Running expenses for Mata Gujari Old Age Home-cum-Orphanage at Village Khanpur, Punjab by Nishkam Sikh Welfare Council - 117/2007 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Running expenses for Mata Gujari Old Age Home- cum -Orphanage at Village Khanpur, Punjab by Nishkam Sikh Welfare Council NOTIFICATION NO. 117/2007, DATED 29-3-2007 S.O. 480(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 844(E), dated the 17 th October, 1995, 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 specified at serial number 14, for Running expenses for Mata Gujari Old Age Home- cum -Orphanage at Village Khanpur, District Ropar, Punjab by Nishkam Sikh Welfare Council, BF-33, Tagore Garden, New Delhi-110027, as an eligible project or scheme for a period of two years beginning with assessment year 1996-97 which was extended further vide notification number S.O.259(E), dated the 27 th March, 1997, for a period of three year beginning with assessment year 1998-99 which was extended further vide notification number S.O.924(E), dated the 20 th September, 2001, for a period of three year beginning with assessment year 2001-02 and which was extended further vide notification number S.O.724(E), dated the 23 rd June, 2004 for a period of three year beginning with financial year 2003-04; AND WHEREAS by notification number S.O. 924(E), dated the 20 th September, 2001 the estimated cost was enhanced from ₹ 27.36 lakhs to ₹ 99.00 lakhs and notification number S.O.724(E), dated the 23 rd June, 2004 the estimated cost was enhanced from ₹ 99.00 lakhs to ₹ 159.00 lakhs; AND WHEREAS the said project or scheme is likely to extend beyond twelve 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 specifying 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 specifies the scheme or project for Running expenses for Mata Gujari Old Age Home- cum -Orphanage at Village Khanpur, District Ropar, Punjab, which is being carried out by Nishkam Sikh Welfare Council, BF-33, Tagore Garden, New Delhi-110027, without any change in the approved cost of ₹ 159.00 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2006-07. [F.No.NC-274/3/2007]