Exemption u/s 35AC - Central Govt had specified project of Running of Shree Navkar Sarvar Kendra and Purchase of vehicle at Ahmedabad by Shree Navkar Sarvar Kendra as an eligible project or scheme - 040/2005 - Income Tax

Exemption u/s 35AC - Central Govt had specified project of Running of Shree Navkar Sarvar Kendra and Purchase of vehicle at Ahmedabad by Shree Navkar Sarvar Kendra as an eligible project or scheme NOTIFICATION NO. 40/2005, DATED 2-2-2005 S.O. 141(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 606(E) dated the 7 th June, 2002, issued under 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 4, the project of scheme for Running of Shree Navkar Sarvar Kendra and Purchase of vehicle at Ahmedabad, by Shree Navkar Sarvar Kendra, 1 st Floor, B-II, Rajhans Society, Ellisbridge, Ahmedabad-380006, at the estimated cost of rupees fifteen lakhs only, as an eligible project or scheme for a period of three years beginning with assessment year 2002-2003; 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 three 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 Running of Shree Navkar Sarvar Kendra and Purchase of vehicle at Ahmedabad, which is being carried out by Shree Navkar Sarvar Kendra, 1 st Floor, B-II, Rajhans Society, Ellisbridge, Ahmedabad-380006, without change in the approved cost as an eligible project or scheme for a further period of three years commencing from the financial year 2004-2005. [F. No. NC-270/408/2004]