Exemption u/s 35AC - Central Government had specified for Purchase of office premises, furniture/fixtures and medical relief to economically weaker sections of the society by Sunrise Charitable Trust, Gujarat as an eligible project or scheme - 245/2005 - Income Tax

Exemption u/s 35AC - Central Government had specified for Purchase of office premises, furniture/fixtures and medical relief to economically weaker sections of the society by Sunrise Charitable Trust, Gujarat as an eligible project or scheme NOTIFICATION NO. 245/2005, DATED 14-11-2005 S.O.1607(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 333(E), dated 28th March, 2003, issued under sub-section (1), read with clause ( b ) of me Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 10, for Purchase of office premises, furniture/fixtures and medical relief to economically weaker sections of the society by Sunrise Charitable Trust, A/401, Ambica Coop. Housing Society Ltd., Ambica Complex, Kheda, Gujarat as an eligible project or scheme for a period of three years beginningwith assessment year 2003-04; And whereas the said project or scheme is likely to extend beyond three 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 Purchase of office premises, furniture/fixtures and medical relief to economically weaker sections of the society, which is being carried out by Sunrise Charitable Trust, A/401, Ambica Coop. Housing Society Ltd., Ambica Complex, Kheda, Gujarat, without any change in the approved cost i.e. Rs. 274 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2005-06. [F. No. NC-270/269/2005]