Notification Under Section 35AC in respect of Venu Eye Institute and Research Centre at Sheikh Sarai, New Delhi by Venu Charitable Society, C-40, South Extension, Part-II, New Delhi. - 087/2011 - Income Tax

NOTIFICATION NO.87/2011 DATED 11-8-2011 S.O. 1866(E):- Whereas by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.844(E), dated the 17th October 1995 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 4 for Venu Eye Institute and Research Centre at Sheikh Sarai, New Delhi by Venu Charitable Society, C-40, South Extension, Part-II, New Delhi, as an eligible project or scheme for a period of three years beginning with assessment year 1996-1997 which was extended further vide Notification number S.O. 224(E), dated the 1st April 1999 for a period of three years beginning with assessment year 1999-2000 which was extended further vide Notification number S.O. 1048(E), dated the 18th October, 2001 for a period of three years beginning with assessment year 2002-2003; which was extended further vide Notification number S.O.709(E), dated the 25 May, 2005 for a period of three years beginning with financial year 2004-2005 and which was extended further vide Notification number S.O. 1164(E), dated the 16th July 2007 for a period of three years beginning with financial year 2007-08; And whereas the said project or scheme is likely to extend 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 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 for Venu Eye Institute and Research Centre at Sheikh Sarai, New Delhi, which is being carried out by Venu Charitable Society C-40, South Extension, Part-II, New Delhi, without any change in the approved cost of Rs. 1260 lakh, as an eligible project or scheme for a further period of three years commencing with financial year 2010-11 i.e., 2010-11, 2011-12 2012-13 with a direction that as the financial year 2010-11 has already lapsed, hence no certificate under section 35AC of Income-tax Act, 1961 shall be issued for the financial year 2010-11. [F.NO.V-27015/3/2011-SO(NAT.COM]