Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Construction of Tutorial and Children activity hall by Anjali (Society for Rural Health and Development) Post-Ranasan as an eligible project or scheme - Amendment in N. No S.O. 591(E), dated the 20th August 1997 - 159/2006 - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Construction of Tutorial and Children activity hall by Anjali (Society for Rural Health and Development) Post-Ranasan as an eligible project or scheme - Amendment in N. No S.O. 591(E), dated the 20th August 1997 Notification No. 159/2006, Dated 5-7-2006 S.O .1003(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 591(E) , dated the 20th August 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 2, for Construction of Tutorial and Children activity hall/compound Wall, equipments, vehicle, furnishing and running of Anjali Hospital, T.B. Centre and Children and Educational Activities at Ranasan-Harsol-Sabarkantha, Gujarat, by Anjali (Society for Rural Health and Development) Post-Ranasan, Via Harsol, Taluka-Prantij, Sabarkantha, Gujarat-383305 , 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. 872(E) , dated the 21st September, 2000 for a period of three years beginning with assessment year 2001-2002 and which was extended further vide notification number S.O. 350(E) , dated the 31st March, 2003 for a period of three years beginning with assessment year 2004-2005 ; And whereas the said project or scheme is likely to extend beyond nine 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 amending the project cost from ₹ 33.00 lakhs plus a corpus fund of ₹ 25.00 lakhs to ₹ 171.00 lakhs including a corpus fund of ₹ 25.00 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 of Tutorial and Children activity hall/compound Wall, equipments, vehicle, furnishing and running of Anjali Hospital, T.B. Centre and Children and Educational Activities at Ranasan-Harsol-Sabarkantha, Gujarat, which is being earned out by Anjali (Society for Rural Health and Development) Post-Ranasan, Via Harsol, Taluka-Prantij, Sabarkantha, Gujarat-383305 as an eligible project or scheme for a further period of three years commencing from the financial year 2006-2007; and (b) further amends the said notification number S.O.591(E) dated the 20th August, 1997, to the following effect, namely :- in the said notification, in the Table against serial number 2, in column (4), relating to maximum amount of estimated cost to be allowed as deduction under section 35AC, for the letters, figures and words ₹ 33.00 lakhs plus a corpus fund of ₹ 25.00 lakhs the letters, figures and the words ₹ 171.00 lakhs including a corpus fund of ₹ 25 lakhs shall be substituted. [F.No. NC-274/1/2006]