Exemption u/s 35AC - C.G. had specified for Rehabilitation and Education of the blind in Gujarat State by National Association for Blind (Gujarat State Branch) as an eligible project or scheme - Amendment in N. No. S.O.180(E), dated the 10th March, 1997 - 235/2006 - Income Tax

Exemption u/s 35AC - C.G. had specified for Rehabilitation and Education of the blind in Gujarat State by National Association for Blind (Gujarat State Branch) as an eligible project or scheme - Amendment in N. No. S.O.180(E), dated the 10th March, 1997 NOTIFICATION NO. 235/2006, DATED 4-9-2006 S.O. 1417(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) Number S.O.180(E), dated the 10th March, 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 13, for Rehabilitation and Education of the blind in Gujarat State by National Association for Blind (Gujarat State Branch), Dr. Vikram Sarabhai Road, Vastrapur, Ahmedabad, Gujarat-380015, as an eligible project or scheme for a period of three years beginning with Assessment Year 1997-98 which was extended further vide Notification Number S.O. 158(E), dated the 23rd February, 2000 for a period of three years beginning with Assessment Year 2000-01 and which was extended further vide Notification Number S.O. 1383(E), dated the 30th December, 2002 for a period of three years beginning with assessment year 2003-04; 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 "Rs.54.45 lakhs" to "Rs. 1.22. crores; 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 Rehabilitation and Education of the blind in Gujarat State, which is being carried out by National Association for Blind (Gujarat State Branch), Dr. Vikram Sarabhai Road, Vastrapur, Ahmedabad, Gujarat-380015 as an eligible project or scheme for a further period of two years commencing from the financial year 2006-07;and (b) further amends the said Notification Number S.O. 180(E), dated the 10th March, 1997, to the following effect, namely : In the said notification, in the Table against serial number 13, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and words "Rs. 54.45 lakhs, the letters, figures and words "Rs. 1.22 crores" shall be substituted. [F. No. NC-274/2/2006]