Exemption u/s 35AC - Central Government had specified for Blood component-purchase of equipments and accessories thereof at Chennai, Tamilnadu, by Madras Egmore Lions Blood Bank and Research Foundation as an eligible project or scheme - 101/2005- S.O. 390(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Blood component-purchase of equipments and accessories thereof at Chennai, Tamilnadu, by Madras Egmore Lions Blood Bank and Research Foundation as an eligible project or scheme NOTIFICATION NO. 101/-2005, DATED 23-3-2005 S.O. 390(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.308(E) dated the 11th May, 1999, 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 5, for Blood component-purchase of equipments and accessories thereof at Chennai, Tamilnadu, by Madras Egmore Lions Blood Bank and Research Foundation, 11, Halls Road, Kilpauk, Chennai-600010 as an eligible project or scheme for a period of three years beginning with assessment year 2000-2001 which was extended further vide notification number S.O.1387(E) dated the 30th December, 2002 for a period of two years beginning with assessment year 2003-2004; And whereas the said project or scheme is likely to extend beyond five 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 Blood component-purchase of equipments and accessories thereof at Chennai, Tamilnadu, which is being carried out by Madras Egmore Lions Blood Bank Research Foundation, 11, Halls Road, Kilpauk, Chennai-600010, without any change in the approved cost i.e. ₹ 20.67 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2004-2005. [F.No. NC-270/01/2005]