Exemption u/s 35AC - Central Government had specified for Help/assistance to patients for medical aid, education, foodgrains at Mumbai, by Jivan Jyot Charitable Trust, Mumbai as an eligible project or scheme - Amendment in N. No. S.O.832(E) dated the 18th September, 1998 - 106/2005 - Income Tax

Exemption u/s 35AC - Central Government had specified for Help/assistance to patients for medical aid, education, foodgrains at Mumbai, by Jivan Jyot Charitable Trust, Mumbai as an eligible project or scheme - Amendment in N. No. S.O.832(E) dated the 18 th September, 1998 NOTIFICATION NO. 106/2005, DATED 23-3-2005 S.O. 395 (E)- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.832(E) dated the 18 th September, 1998, issued under sub-section (1) read with clause ( b ) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, for Help/assistance to patients for medical aid, education, foodgrains at Mumbai, by Jivan Jyot Charitable Trust, Thakkar House, 19D, Pushtikar Society, Road No.4, Jogeshwari (West), Mumbai - 400102, as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000 which was extended further vide notification number S.O.544(E) dated the 20 th June, 2001 for a period of three years beginning with assessment year 2002-2003; And whereas by notification number S.O.222(E) dated 1 st April, 1999, the estimated cost was amended from 100.00 lakhs to 25.00 lakhs as corpus fund out of the approved cost of 100.00 lakhs; And whereas, the said project or scheme is likely to extend beyond six years; And, whereas, the National Committee for the 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 25.00 lakhs as corpus fund out of the approved cost of 100.00 lakhs to 135.OO lakhs including a corpus fund of 25.00 lakhs; Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) of, 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 Help/assistance to patients for medical aid, education, foodgrains, which is being carried out by Jivan Jyot Charitable Trust, Thakkar House, 19D, Pushtikar Society, Road No.4, Jogeshwari (West), Mumbai -400102 as an eligible project or scheme for a further period of three years commencing from the financial year 2004-2005; and ( b ) further amends the said notification number S.O. 832(E) dated the 18 th September, 1998, to the following effect, namely:- In the said notification, in the Table against serial number 3, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35 AC, for the letters, figures and words 25.00 lakhs as corpus fund out of the approved cost of 100.00 lakhs, the letters, figures and words 135.00 lakhs including a corpus fund of 25.00 lakhs shall be substituted. [F.No.NC-270/01/2005]