Exemption u/s 35AC - Central Govt. had specified the project to Conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat, by Karuna Trust as an eligible project or scheme - 042/2005 - Income Tax

Exemption u/s 35AC - Central Govt. had specified the project to Conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat, by Karuna Trust as an eligible project or scheme NOTIFICATION NO. 42/2005, DATED 2-2-2005 S.O. 143(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number SO 92(E) dated the 2nd February, 1996, issued under clause ( b ) of the Explanation to section 35AC of the Income-Fax Act, 1961 (43 of 1961), the Central Government had specified at serial number 5, the project of scheme to Conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat, by Karuna Trust, 22, Gautam Nagar, Near Narapura-Railway Crossing, Ahmedabad - 13, at the estimated cost of rupees ninety four lakhs, as an eligible project or scheme for a period of three years beginning with assessment year 1996-1997 which was extended further vide notification number S.O. 57(E) dated the 16th January, 1998 for a period of three years beginning with assessment year 1999-2000 and which was extended further vide notification number S.O.539(E) dated 20th June 2001 for a period of three years beginning with assessment year 2002-2003 and also amended to enhance the cost from Rs.94.00 lakhs to Rs 128.00 lakhs, 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, 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 to Conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat, which is being carried out by Karuna Trust, 22, Gautam Nagar, Near Narapura Railway Crossing, Ahmedabad - 13, 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]