Exemption u/s 35AC - Central Govt had specified for Expansion of outreach programmes for rural areas at neighbouring villages of Uttar Pradesh, Haryana and Rajasthan, by Ishwar Charitable Trust as an eligible project or scheme - 240/2005 - Income Tax

Exemption u/s 35AC - Central Govt had specified for Expansion of outreach programmes for rural areas at neighbouring villages of Uttar Pradesh, Haryana and Rajasthan, by Ishwar Charitable Trust as an eligible project or scheme NOTIFICATION NO. 240/2005, DATED 14-11-2005 S.O.1602(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 471(E), dated the 26th May, 1995, 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 13, for Expansion of outreach programmes for rural areas at neighbouring villages of Uttar Pradesh, Haryana and Rajasthan, by Ishwar Charitable Trust (Ishwar Eye Institute) - ICARE, N-172, Panchshila Park, New Delhi, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97 which was extended further vide notification number S.O. 837(E), dated the 18th September, 1998 for a period of three years beginning with assessment year 1999-2000 and which was extended further vide notification number S.O. 904(E), dated the 20th September, 2001 for a period of three years beginning with assessment year 2002-03; 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 two 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 Expansion of outreach programmes for rural areas at neighbouring villages of Uttar Pradesh, Haryana and Rajasthan, which is being carried out by Ishwar Charitable Trust (Ishwar Eye Institute) - ICARE, N-172, Panchshila Park, New Delhi, without any change in the approved cost i.e. Rs. 208.97 lakhs, as an eligible project or scheme for a further period of two years commencing from the financial year 2005-06. [F. No. NC-270/269/2005]