Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction, establishment and running of 30 bed Swami Vivekananda Integrated Rural Centre for elimination of leprosy and T.B. at Karnataka by Sri Ramakrishna Sevashram - 133/2007 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction, establishment and running of 30 bed Swami Vivekananda Integrated Rural Centre for elimination of leprosy and T.B. at Karnataka by Sri Ramakrishna Sevashram NOTIFICATION NO. 133/2007, DATED 29-3-2007 S.O. 496(E)- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 713(E) dated the 8 th August, 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 2, for Construction, establishment and running of 30 bed Swami Vivekananda Integrated Rural Centre for elimination of leprosy and T.B. at Pavaguda Taluk, Tumkur, Karnataka by Sri Ramakrishna Sevashram, Radha Lakshmi Nivas , K.R. Extension, Pavagada, Tumkur, Karnataka-561202, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97 which was extended further vide notification number S.O.99(E) dated the 11 th February, 1999 for a period of three years beginning with assessment year 1999-2000 which was extended further vide notification number S.O.1217(E) dated the 12 th December, 2001 for a period of three years beginning with assessment year 2002-03 and which was extended further vide notification number S.O.386(E) dated the 23 rd March, 2005 for a period of three years beginning with financial year 2004-05; 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 and enhancing the project cost from ₹ 142.00 lakhs to ₹ 292.00 lakhs; 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 specifies the scheme or project for Construction, establishment and running of 30 bed Swami Vivekananda Integrated Rural Centre for elimination of leprosy and T.B. at Pavaguda Taluk, Tumkur, Karnataka, which is being carried out by Sri Ramakrishna Sevashram, Radha Lakshmi Nivas , K.R. Extension, Pavagada, Tumkur, Karnataka-561202, as an eligible project or scheme for a further period of three years commencing from the financial year 2007-08; and (b) further amends the said notification number S.O.713(E) dated the 8 th August 1995, to the following effect, namely :- In the said notification, in the Table against serial number 2, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word ₹ 142.00 lakhs , the letters, figures and word ₹ 292.00 lakhs shall be substituted. [F.No.NC-274/3/2007]