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Notification u/s 35AC - Notifies the scheme CRY Supported Development project all over India - 42/2012 - Income TaxExtract Notification No. 42/2012 Dated : 14.05.2012 S.O. 1075 (E)- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S. O. 388(E), dated 19th May, 1997, 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 24, CRY Supported Development project all over India , by CRY (Child Relief and you), DDA Slum Wing Barat Ghar, Bapu Park, Kotla Mubarakpur, New Delhi, as an eligible project or scheme for a period of three years beginning with the assessment year 1998-99, which was extended further vide notification number S. O. 634(E), dated 5th July, 2000 , for a period of three years beginning with the assessment year 2001-02, which was extended further vide notification number S. O. 692(E), dated 13th June, 2003, for a period of three years beginning with the assessment year 2004-05, which was extended further vide notification number S.O. 1415(E), dated 4th September, 2006 , for a period of three years beginning with the financial year 2006-07 and which was extended further vide notification number S.O. 2049(E), dated 6th August, 2009 , for a period of three years beginning with the financial year 2009-10 ; And whereas by notification number S. O. 634(E), dated 5th July, 2001, the estimated cost was enhanced from ₹ 1650.00 lakh to ₹ 2773.00 lakh, which was further enhanced vide notification number S. O. 692(E), dated 13th June, 2003 from ₹ 2773.00 lakh to ₹ 5373.00 lakh, which was further enhanced vide notification number S. O. 146(E), dated 3rd February, 2006 from ₹ 5373.00 lakh to ₹ 5873.00 lakh and which was further enhanced vide notification Number S. O. 1415(E), dated the 4th September, 2006 , from : ₹ 5873.00 lakh to ₹ 120.85 crore, vide notification number S. O. 2049(E), dated 6th August 2009 , the estimated cost was further enhanced from ₹ 120.85 crore to ₹ 188.39 crore ; And whereas the said project or scheme is likely to extended beyond fifteen 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 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) , (a) hereby notifies the scheme or project CRY Supported Development project all over India , which is being carried out by CRY (Child Relief and you), DDA Slum Wing Barat Ghar, Bapu Park, Kotla Mubarakpur, New Delhi, without any change in the approved cost of ₹ 188.39 crore, as an eligible project or scheme for a further period of three years with the financial year 2012-13, i.e., 2012-13, 2013-14 and 2014-15. [F. No. V. 27015/2/2012-SO (NAT.COM)]
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