NOTIFICATION NO. S.O. 2894(E)[NO. 133/2011 (F.NO.V-27015/5/2011-SO (NAT.COM))], DATED 27-12-2011

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

NOTIFICATION NO. S.O. 2894(E)[NO. 133/2011 (F.NO.V-27015/5/2011-SO (NAT.COM))]DATED 27-12-2011

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 notified at serial number 7, “Expansion Project – purchase of equipments for increasing number of free eye surgeries and running of Hospital at Village – Ognaj, Ahmedabad, Gujarat” by Lions Club of Karnavati Foundation At & Post – Village Ognaj, Village Ognaj, District – Ahmedabad – 382 421, as an eligible project or scheme for a period of three years beginning with assessment year 2001-02, which was extended further vide notification number S.O.528(E), dated the 9th May, 2003 for a period of three years beginning with assessment year 2004-05, which was extended further videnotification number S.0.244(E), dated the 15th February, 2007 for a period of three years beginning with financial year 2006-07 and which was extended further vide notification number S.O. 848(E), dated 25th March, 2009 for a period of three years beginning with financial year 2009-10;

And whereas the said project or scheme is likely to extend beyond twelve 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 Explanationto section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby notifies the scheme or project “Expansion Project -purchase of equipments for increasing number of free eye surgeries and running of Hospital at Village – Ognaj, Ahmedabad, Gujarat” being carried out by Lions Club of Karnavati Foundation, At & Post – Village Ognaj, Village Ognaj, District – Ahmedabad – 382 421, without any change in the approved cost of Rs.437.50 lakh including a corpus fund of Rs. 150.00 lakh, as an eligible project or scheme for a further period of three years beginning with financial year 2012-13, i.e., 2012-13, 2013-14 & 2014-15.

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