Exemption u/s 35AC – Amendments in Notification no. SO 878(E), dated the November 30, 1992 projects of 'Research and Rehabilitation Centre for the Deaf' by Delhi Association of the Deaf - SO 1314(E) - Income Tax

Notification No. SO 1314(E) [F. No. NC-274/08/2008], dated 4-6-2008 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number SO 878(E), dated the November 30, 1992, issued under clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961) , the Central Government had notified at serial number 4, 'Research and Rehabilitation Centre for the Deaf' by Delhi Association of the Deaf, 92, Kamla Market, New Delhi - 110022, as an eligible project or scheme for a period of three years beginning with assessment year 1993-94 which was extended further vide notification number SO 404(E), dated the March 19, 2004 for a period of three years beginning with assessment year 1996-1997 which was extended further vide notification number SO 437(E) dated the May 20, 1998 for a period of three years beginning with assessment year 1999-2000 which was extended further vide notification number SO 1049(E) dated the October 18, 2001 for a period of three years beginning with assessment year 2002-2003 and which was extended further vide notification number SO 717(E) dated the May 25, 2005 for a period of three years beginning with financial year 2004-2005; And whereas the said project or scheme is likely to extend beyond fifteen 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; 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 notifies the scheme or project 'Research and Rehabilitation Centre for the Deaf' being carried out by Delhi Association of the Deaf, 92, Kamla Market, New Delhi - 110 022, without any change in the approved cost of Rs. 1 crore, as an eligible project or scheme for a further period of three years beginning with financial year 2007-08. However, since the financial year 2007-08 has already elapsed, the approval shall not be valid for financial year 2007-08 in respect of funds collected during this financial year and no certificate for exemption of donation under section 35AC(1) of the Income-tax Act, 1961 shall be issued in respect of the financial year 2007-08.