Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction of buildings, furnishing and running of "Valley for the Disabled" Project at Ayikudy, District of Tamil Nadu by Amar Seva Sangam - 129/2007 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction of buildings, furnishing and running of "Valley for the Disabled" Project at Ayikudy, District of Tamil Nadu by Amar Seva Sangam NOTIFICATION NO. 129/2007, DATED 29-3-2007 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.212(E) dated the 1 st April, 1999, 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 2, for Construction of buildings, purchase of books, vehicles, equipments, furnishing and running of "Valley for the Disabled" Project at Ayikudy, Shencottah Taluk, Tirunelveli District of Tamil Nadu by Amar Seva Sangam, Post Box No.l, Sulochana Gardens, 7-4-104B, Tenkasi Road, Ayikudi-627852, Tamil nadu, as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000 which was extended further vide notification number S.O.572(E) dated the 20 th June, 2001 for a period of three years beginning with assessment year 2002-03 and which was extended further vide notification number S.O.1608(E) dated the 14 th November, 2005 for a period of two years beginning with financial year 2005-06; 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 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 Construction of buildings, purchase of books, vehicles, equipments, furnishing and running of "Valley for the Disabled" Project at Ayikudy, Shencottah Taluk, Tirunelveli District of Tamil Nadu which is being carried out by Amar Seva Sangam, Post Box No.l, Sulochana Gardens, 7-4-104B, Tenkasi Road, Ayikudi-627852, Tamil nadu, without any change in the approved cost of Rs. 500.31 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2007-08. [F.No.NC-274/3/2007]