U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Iskcon Food Relief Foundation, Mumbai - 118/2015 - Income Tax

NOTIFICATION NO. 118/2015 DATED 11-2-2015 S.O. 488(E) - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 135(E) dated the 3rd February, 2006 , 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 notified at serial number 11, Mid day meal to students in Maharashtra by Iskon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai - 400049 , as an eligible project or scheme for a period of three years beginning with financial year 2005-2006; which was extended further vide notification number S.O.2378(E) dated 3rd October, 2008 for a further period of three years beginning with the financial year 2008-09 and which was farther extended vide notification number S.O.1865(E) dated 11.8.2011 for a period of three years ending with financial year 2013-14; And whereas by notification number S.O.2378(E) dated 3rd October, 2008 , the estimated cost was enhanced from ₹ 12.35 crore to ₹ 49.48 crore; And whereas the said project or scheme is likely to extend beyond nine years; And whereas the project cost is likely to enhance from 'Rs.49.48 crore' to' ₹ 86.43 crore'; 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 and amending the project cost from 'Rs.49.48 crore' to 'RS. 86.43 crore'. 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 Mid day meal to students in Maharashtra , which is being carried out by Iskcon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai - 400049 , for a further period of three years commencing with financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17; and (b) further amends the said notification number S.O. 135(E) dated the 3rd February, 2006 , to the following effect, namely:- In the said notification, in the Table against serial number 11, in column (1), relating to maximum cost to be allowed as deduction under section 35AC , for the letters, figures and board Rs.49.48 crore the letters, figures and word Rs. 86.43 crore shall be substituted. [F.NO.V.27015/3/2014-SO(NAT.COM)]