Notification No.126/2015 [F.No.V.27015/1/2015-SO(NAT.COM)] / SO 1472(E) : Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Vedanta Foundation, Mumbai

SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES - VEDANTA FOUNDATION, MUMBAI

NOTIFICATION NO.126/2015 [F.NO.V.27015/1/2015-SO(NAT.COM)]/SO 1472(E), DATED 4-6-2015

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 743(E), dated 11.4.2011, 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 6, "Vedanta Super-30" by "Vedanta Foundation, Opposite Niranjan Building, Corner of 'E' Road, Marine Drive, Mumbai-400 002", as an eligible project or scheme, at the estimated cost of Rs. 942.26 lakh for a period of three years ending with financial year 2014-15;

And whereas the said project or scheme is likely to extend beyond 3 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), hereby notifies the scheme or project "Vedanta Super-30", which is being carried out by "Vedanta Foundation, Opposite Niranjan Building, Corner of 'E' Road, Marine Drive, Mumbai - 400 002", without any change in the approved cost of Rs. 942.26 lakh, for a further period of three years commencing with financial years 2015-16 i.e 2015-16, 2016-17 & 2017-18.

■■