Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Running of Vocational Training Centre for economically weaker section of society" by Chittarnajan Seva Pratisthan as an eligible project or scheme - 032/2007 [F.No.NC-274/03/2007] - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Running of Vocational Training Centre for economically weaker section of society" by Chittarnajan Seva Pratisthan as an eligible project or scheme NOTIFICATION NO. 32/2007 [F.No.NC-274/03/2007] New Delhi , dated the 23rd October, 2007 S.O. 1796(E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.681(E) dated the 13th June, 2003, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had notified at serial number 3, "Running of Vocational Training Centre for economically weaker section of society" by Chittarnajan Seva Pratisthan, A-303, Rajkamal, Opp. University Campus, Vidyanagari Marg, Kalina, Mumbai - 400 098, as an eligible project or scheme for a period of three years beginning with assessment year 2004-2005; 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 extending 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, hereby notifies the scheme or project "Running of Vocational Training Centre for economically weaker section of society" being carried out by Chittarnajan Seva Pratisthan, A-303, Rajkamal, Opp. University Campus, Vidyanagari Marg, Kalina, Mumbai - 400 098, without any change in the approved cost of Rs.23.93 lakh plus a corpus fund of Rs.20 lakh, as an eligible project or scheme for a further period of three years beginning with financial year 2006-2007. However, since the financial year 2006-07 has already elapsed, no certificate for exemption of donation u/s 35AC (1) of the IT Act, 1961 shall be issued in respect of the financial year 2006-07. [No. 32/ 2007/ F.No. NC-274/03/2007]