Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction of home for mentally and physically challenged children and running of the project by Society of friends of Sassoon Hospital - 130/2007 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction of home for mentally and physically challenged children and running of the project by Society of friends of Sassoon Hospital NOTIFICATION NO. 130/2007, DATED 29-3-2007 S.O. 493 (E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 461(E) dated the 5 th April, 2004, 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 7, for Construction of home for mentally and physically challenged children and running of the project by Society of friends of Sassoon Hospital, Room No.87, Sassoon General Hospitals, Pune-411001, as an eligible project or scheme for a period of three years beginning with financial year 2004-05; AND WHEREAS the said project or scheme is likely to extend beyond Eight 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 home for mentally and physically challenged children and running of the project which is being carried out by Society of friends of Sassoon Hospital, Room No.87, Sassoon General Hospitals, Pune-411001, without any change in the approved cost of ₹ 3.00 crores including a corpus fund of ₹ 2 crores , 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]