U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Sri Dakshinya Bhava Samithi, Andhra Pradesh - 24/2015 - Income Tax

NOTIFICATION NO.24/2015 DATED 6-1-2015 S.O. 75(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O 154(E) dated 23.2.2000 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 2, Construction of building for special school hostel and staff quarters, purchase of equipment, furnishing and running of Dakshinya Institute for the mentally handicapped at Padapalkaluru village, Guntur by Sri Dakshinya Bhava Samithi, D.No.4-2-16, 4th Line, Lakshmipuram, Guntur -522007, Andhra Pradhesh , as an eligible project or scheme, at the estimated cost of ₹ 267.80 lakh, for a period of three years ending with financial year 2002-03; which was further extended vide notification number S.O. 1278(E) dated 9.12.2002 for three years ending with financial year 2004-05; which was extended further vide notification number S.O.497(E) dated 04.04.2006 for three more years ending with financial year 2007-08; which was further extended vide notification number S.O. No. 1476 (E) dated 17.06.2008 for three years ending with financial Year 2010-11; and which was further extended vide notification number S.O. 660(E) dated 12.3.2011 for a period of three years ending with financial year 2013-14. And whereas vide notification number S.O. 660(E) dated 12.3.2011, the project cost was enhanced from 'Rs.267.80 lakh' to 'Rs.459.80 lakh'; And whereas the said project or scheme is likely to extend beyond 15 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 She powers conferred by sub-section (1) read with clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1963), hereby notifies the scheme or project Construction of building for special school hostel and staff quarters, purchase of equipment, furnishing and running of Dakshinya Institute for the mentally handicapped at Padapalkaluru village, Guntur , which is being carried out by Sri Dakshinya Bhava Samithi, D.No.4-2-16, 4th Line, Lakshmipuram, Guntur -522007, Andhra Pradhesh , without any change in the approved cost of ₹ 459.80 lakh, for a further period of three years commencing with financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17. [F.NO.V.27015/3/2014-SO(NAT.COM)]