Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Financial assistance or support for medical, educational health and nutrition, poverty relief and employment generation for handicapped, women and girls by Allana Foundation as an eligible project or scheme - 160/2006 - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Financial assistance or support for medical, educational health and nutrition, poverty relief and employment generation for handicapped, women and girls by Allana Foundation as an eligible project or scheme Notification No. 160/2006, Dated 5-7-2006 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1124(E) dated the 29th September, 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 9, for Financial assistance or support for medical, educational health and nutrition, poverty relief and employment generation for handicapped, women and girls by Allana Foundation - Project Naya Jeevan, Allana House, Allana Road, Colaba, Mumbai-400001 , as an eligible project or scheme for a period of three years beginning with assessment year 2003-2004 ; 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 two 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 financial assistance or support for medical, educational health and nutrition, poverty relief and employment generation for handicapped, women and girls which is being carried out by Allana Foundation - Project Naya Jeevan, Allana House, Allana Road, Colaba, Mumbai-400001 , without any change in the approved cost of Rs. 400.00 lakhs, as an eligible project or scheme for a further period of two years commencing from the financial year 2006-2007 . [F.No. NC-274/01/2006]