Notification No.229/2015 [F.No.V.27015/3/2015-SO(NAT.COM)] / SO 3039(E)

SECTION 35AC OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES

NOTIFICATION NO. SO 3039(E) [NO.229/2015 (F.NO.V.27015/3/2015-SO (NAT.COM))], DATED 10-11-2015

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.497(E) dated the 26th May, 2000, 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 2, for Construction of building and running of "Vridh Bhakt Niwas (Old age Home), Dhyan Yoga Kendra and Ayurvedic Dispensary at Village - Bhagdevar, Mahuari Kalan, District - Mirzapur, Uttar Pradesh" by "Brahmavetta Shree Devaraha Hans Baba Trust, 79, Cariappa Marg, Sainik Farm, New Delhi", as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002; which was extended further vide notification number S.O.690(E) dated the 13th June, 2003 for a period of three years beginning with assessment year 2004-2005; which was further extended vide No. S.O. 1411(E) dated 04.06.2006 for a period of three years beginning with financial year 2006-07; which was extended further vide notification number S.O. No. 637 (E) dated 22nd March,2010 for a period of three year beginning with financial year 2009-10 and which was extended further vide notification number S.O. No.651 (E) dated 12th March, 2013 for a period of three year beginning with financial year 2012-13;

And whereas by Notification Number S.O. No.637 (E) dated 22nd March, 2010 the estimated project cost was enhanced from Rs. 7.55 crore to Rs. 11.85 crore;

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 "Construction of building and running of Vridha Bhakt Niwas (old Age Home), Dhyan Yoga Kendra and Ayurvedic dispensary" which is being carried out by "Brahmavetta Shree Devaraha Hans Baba Trust,79, Cariappa Marg, Sainik Farm, New Delhi", without any change in the approved cost of Rs. 11.85 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2015-16 i.e 2015-16, 2016-17 & 2017-18.

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