Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for CRY Supported Development Project all over India by CRY (Child Relief and You) as an eligible project or scheme - Amendment in N. No S.O.388(E), dated the 19th May, 1997 - 015/2006- S.O. 146(E) - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for CRY Supported Development Project all over India by CRY (Child Relief and You) as an eligible project or scheme - Amendment in N. No S.O.388(E), dated the 19 th May, 1997 NOTIFICATIONNO. 15/2006, DATED 3-2-2006 S.O. 146 (E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.388(E), dated the 19 th May, 1997, 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 24, for CRY Supported Development Project all over India by CRY (Child Relief and You), DDA Slum Wing Barat Ghar, Bapu Park, Kotla Mubarakpur, New Delhi, as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999 which was extended further vide notification number S.O.634(E) dated the 5 th July, 2000 for a period of three years beginning with assessment year 2001-2002 and which was extended further vide notification number S.O.692(E) dated the 13 th June, 2003 for a period of three years beginning with assessment year 2004-2005; And whereas by notification number S.O.634(E) dated the 5 th July, 2000 the estimated cost was enhanced from 1650.00 lakhs to 2773.00 lakhs and which was further enhanced vide notification No.S.O. 692(E) dated the 13 th June, 2003 from 2773.00 lakhs to 5373.00 lakhs; 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 enhancing the project cost from 5373.00 lakhs to 5873.00 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 35 AC of the Income-tax Act, 1961 (43 of 1961),- (a) hereby specifies the scheme or project for CRY Supported Development Project all over India, which is being carried out by CRY (Child Relief and You), DDA Slum wing Barat Char, Bapu Park, Kotla Mubarak Pur, New Delhi, as an eligible project or scheme; and (b) further amends the said notification number S.O.388(E) dated the 19 th May, 1997, to the following effect, namely :- In the said notification, in the Table against serial number 24, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC for the letters, figures and word 5373.00 lakhs, the letters, figures and word 5873.00 lakhs shall be substituted.