Exemption u/s 35AC - Central Government had specified for Mid-day Meal Scheme in three schools of Bangalore by Maria Seva Sangha. as an eligible project or scheme - Amendment in N. No S.0.469(E) dated the 2nd July, 1996 - 323/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for Mid-day Meal Scheme in three schools of Bangalore by Maria Seva Sangha. as an eligible project or scheme - Amendment in N. No S.0.469(E) dated the 2nd July, 1996 Notification No : 323 Date of Issue : 27/11/2003 S.O.1371(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.0.469(E) dated the 2nd July, 1996, 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 Mid-day Meal Scheme in three schools of Bangalore, by Maria Seva Sangha. Villa Maria, No. 12 Rest House road, Bangalore-560001, as eligible project or scheme for a period of three years beginning with assessment year 1997-1998 which was extended further vide notification number S.0.317(E) dated the 11 th May, 1999 for a period of two years beginning with assessment year 2000-2001 which was extended further vide notification number, S.0.552(E) dated the 20 th June, 2001 for a period of two years beginning with assessment year 2002-2003 and which was extended further vide notification number S.O.688(E) dated the 13 th June, 2003 for a period of one year beginning with assessment year 2004-2005; 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 enhanced the approved cost of the project from Rs. 15.00 lakhs to 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 Mid-day Meal Scheme in three schools of Bangalore which is being carried out by Maria Seva Sangha, Villa Maria, No. 12 Rest House road, Bangalore-560001 as an eligible project or scheme and further amends the said notification number S.O. 469(E) dated the 2 nd July, 1996, to the following effect, namely:- In the said notification, in the Table against serial number 5, in column (4), the committee, however, enhanced the approved cost of the project from Rs. 15.00 lakhs to Rs. 30.00 lakhs, i.e., approved cost of the project shall be substituted. F.No.NC-240/2003