Exemption u/s 35AC - Central Govt. had specified for Purchase of ambulance, instruments and running of welfare activities in Ahmedabad by Shri Baldevdas Charitable Trust as an eligible project or scheme - Amendment in N. No. S.0.422(E) dated the 19th May, 1998 - 186/2004 (S.O. 788(E)) - Income Tax

Exemption u/s 35AC - Central Govt. had specified for Purchase of ambulance, instruments and running of welfare activities in Ahmedabad by Shri Baldevdas Charitable Trust as an eligible project or scheme - Amendment in N. No. S.0.422(E) dated the 19 th May, 1998 Notification No. 186/2004 Dated 5 th July, 2004 S.O. 788(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.0.422(E) dated the 19 th May, 1998, issued under 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 5, for Purchase of ambulance, instruments and running of welfare activities (Medical aid/camps, distribution of foodgrain and clothes) of Shri Baldevdas Charitable Trust in Rural/Urban slums in Ahmedabad and nearby areas in Gujarat State, by Shri Baldevdas Charitable Trust, 18-Raopura Cooperative Housing Society, Near Memnagar Fire Station, Navrangpura, Ahmedabad - 380 009, as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000 and which was extended further vide notification number S.0.558(E) dated the 20 th June, 2001; And whereas the said project or scheme is likely to extend beyond six 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 specifying the said project or scheme for amending the project cost from 75.00 lakhs to 175.00 lakhs including a corpus fund of 30.00 lakhs; 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),- (a) hereby specifies the scheme or project of Purchase of ambulance, instruments and running of welfare activities (Medical aid/camps, distribution of food grain and clothes) of Shri Baldevdas Charitable Trust in Rural/Urban slums in Ahmedabad and nearby areas in Gujarat State which is being carried out by Shri Baldevdas Charitable Trust, 18-Raopura Cooperative Housing Society, Near Memnagar Fire Station, Navrangpura, Ahmedabad - 380 009 for a further period of three years commencing from the Financial year 2004-2005; and (b) further amends the said notification number S.0.422(E) dated the 19 th May, 1998, to the following effect, namely:- In the said notification, in the Table against serial number 5, in column (4), relating to maximum cost for which allowed, for the letters, figures and word 75.00 lakhs the letters, figures and word 175.00 lakhs including a corpus fund of 30.00 lakhs shall be substituted. Sd/- (Sunil Sharma) Deputy Secretary (National Committee) F.No.NC-69/2004