Exemption u/s 35AC - Central Government had specified for administration and maintenance of 27 existing villages by SOS Children's Village of India as an eligible project or scheme - 118/2003- S.O. 527(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for administration and maintenance of 27 existing villages by SOS Children's Village of India as an eligible project or scheme Notification No. 118 of 2003, dt. 9th May, 2003 S.O. 527(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 267(E) dated the 29th March, 1994, 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 6, for administration and maintenance of 27 existing villages for providing free clothing, education and shelter and family environment to destitute, orphaned and abandoned children, by SOS Children's Village of India, A-38, Kailash Colony, New Delhi-110048, as an eligible project or scheme for a period of three years beginning with assessment year 1995-1996 which was extended further vide notification number S.O. 390(E) dated 19th May, 1997 [for a period of three years beginning with assessment year 1998-1999 and which was extended further vide notification number S.O. 852(E) dated 21st September, 2000 for a period of three years beginning with assessment year 2001-2002; And whereas the said project or scheme is likely to extend beyond nine years And whereas the National Committee, 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 of administration and maintenance of 27 existing villages for providing free clothing, education and shelter and family environment to destitute, orphaned and abandoned children which is being carried out by SOS Children's Village of India, A-38, Kailash Colony, New Delhi-110048, at the estimated cost of rupees thirty-two crores ninety-one lakhs only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2004-2005. [F.No. NC-53-2003]