Exemption u/s 35AC - Central Govt. had specified for Medical Relief project at Ahmedabad by Dardiono Rahat Fund as an eligible project or scheme - Amendment in N. No S.O. 399(E), dated the 16th June, 1996 - 239/2005 - Income Tax

Exemption u/s 35AC - Central Govt. had specified for Medical Relief project at Ahmedabad by Dardiono Rahat Fund as an eligible project or scheme - Amendment in N. No S.O. 399(E), dated the 16th June, 1996 NOTIFICATION NO. 239/2005, DATED 14-11-2005 S.O.1601(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 399(E), dated the 16th June, 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 11, for Medical Relief project at Ahmedabad by Dardiono Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad-380009 as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998 Which was extended further vide notification number S.O. 312(E), dated the 11th May, 1999 for a period of three years beginning with assessment year 2000-2001 which was extended further vide notification number S.O. 608(E), dated the 7th June, 2002 for a period of three years beginning with assessment year 2003-2004; And whereas by notification number S.O. 312(E), dated the 11th May, 1999 the estimated cost was amended from Rs.75 lakhs to Rs. 116 lakhs, which was further amended vide corrigendum No. S.O. 870(E), dated the 14th August, 2002 from Rs. 116 lakhs to Rs. 137.08 lakhs and notification No. S.O. 510(E), dated the 19th April, 2004 from Rs. 137.08 lakhs to Rs. 157.08 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 and amending the project cost from Rs. 157.08 lakhs to Rs. 229.08 lakhs; 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 (43of 1961) ( a ) hereby specifies the scheme or project for Medical Relief Project at Ahmedabad, which is being carried out by Dardiono Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad-380009 as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006; and ( b ) further amends the said notification number S.O. 399(E), dated the 6th June, 1996, to the following effect, namely :- In the said notification, in the Table against serial number 11, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC, for the letters, figures and word Rs. 157.08 lakhs the letters, figures and word Rs. 229.08 lakhs shall be substituted. [F. No. NC-270/269/2005]