Exemption u/s 35AC of the Income-tax Act, 1961 The Central govt. had Specified project by Shri Hari Public Charitable Trust, Ahmedabad, notified as eligible project - 306/2006 - Income Tax

Exemption u/s 35AC of the Income-tax Act, 1961 The Central govt. had Specified project by Shri Hari Public Charitable Trust, Ahmedabad, notified as eligible project NOTIFICATION No. 306/2006, dated 26-10-2006 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 469(E), dated the 2nd July, 1996, 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 7, for Construction, equipments with all amenities of Vrudhashram and Eye Hospital at Sachina Sub-Panchayat, Village Haripur Taluk Viramgam, District Ahmedabad, Gujarat by Shri Hari Public Charitable Trust, 5/A, Krishna Society, Near Law Garden, Ellisbridge, Ahmedabad-6 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. 1145(E), dated the 18thNovember, 1999 for a period of three years beginning with assessment year 2000-01 and which was extended further vide notification number S.O. 1131(E), dated the 29th September, 2003 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 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 Construction, equipments with all amenities of Vrudhashram and Eye Hospital at Sachina Sub-Panchayat, Village Haripur Taluk Viramgam, District Ahmedabad, Gujarat which is being carried out by Shri Hari Public Charitable Trust, 5/A, Krishna Society, Near Law Garden, Ellisbridge, Ahmedabad-6, without any change in the approved cost of Rs. 87.52 lakhs, as an eligible project or scheme for a further period of two years commencing from the financial year 2006-07. [F. No. NC-274/03/2006]