Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Purchase of Ambulance, instruments and running of welfare activities (medical aid/camps, distribution of foodgrain and clothes)" by Shree Baldevdas Charitable Trust as an eligible project or scheme - 037/2007 [F.No.NC-274/03/2007] - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Purchase of Ambulance, instruments and running of welfare activities (medical aid/camps, distribution of foodgrain and clothes)" by Shree Baldevdas Charitable Trust as an eligible project or scheme NOTIFICATION NO. 37/2007 [F.No.NC-274/03/2007] New Delhi , dated the 23rd October, 2007 S.O. 1801(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.422(E) dated the 19 th May, 1998, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had notified at serial number 5, " Purchase of Ambulance, instruments and running of welfare activities (medical aid/camps, distribution of foodgrain and clothes)" by Shree Baldevdas Charitable Trust,, 18, Ravpura Society, B/h. Memnagar Fire Stattion, Navragpura, Ahmedabad - 380 009, 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.558(E) dated the 20 th June, 2001 for a period of three years beginning with assessment year 2002-2003 and which was extended further vide notification number S.O.788(E) dated the 5 th July, 2004 for a period of three years beginning with financial year 2004-2005; And whereas by notification number S.O.788(E) dated the 5 th July, 2004 the estimated cost was enhanced from Rs. 75 lakh to Rs.175 lakh; And whereas the said project or scheme is likely to extend beyond nine 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 extending the said project or scheme for a further period of three years and amending the project cost from Rs.175 lakh to Rs.325 lakh with a corpus fund of Rs. 30 lakh; 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,- (a) hereby notifies the scheme or project " Purchase of Ambulance, instruments and running of welfare activities (medical aid/camps, distribution of foodgrain and clothes)", being carried out by Shree Baldevdas Charitable Trust,, 18, Ravpura Society, B/h. Memnagar Fire Stattion, Navragpura, Ahmedabad - 380 009 for a period of three more years beginning with financial year 2007-2008; and (b) further amends the said notification number S.O. 422(E) dated the 19 th May, 1998, to the following effect, namely:- In the said notification, in the Table against serial number 3, in column (4), relating to maximum cost for which allowed, for the letters, figures and word "Rs.175 lakh " the letters, figures and word "Rs.325 lakh with a corpus fund of Rs.30 lakh" shall be substituted. [ No.37/2007 /F.No.NC-274/03/2007]