SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – JIVAN JYOT CHARITABLE TRUST, GUJARAT
NOTIFICATION NO. 37/2014 [F.NO.V.27015/1/2014-SO(NAT.COM)]/SO 1960(E), DATED 31-7-2014
Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2370(E) dated 3rd October, 2008, 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 20, Purchase of hospital equipments and to raise corpus fund by Jivan Jyot Charitable Trust, C/o Patan Janta Hospital, Sardar Road, Near Railway Garnala, Patan, North Gujarat, as an eligible project or scheme for a period of three years beginning with financial year 2008-09; which was further extended vide notification number S.O. 860(E) dated 27.4.2011 for a period of three years commencing from financial year, 2011-12, i.e., 2011-12, 2012-13 and 2013-14.
And whereas the said project or scheme is likely to extend beyond six 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 Purchase of hospital equipments and to raise corpus fund which is being carried out by ‘Jivan Jyot Charitable Trust, C/o Patan Janta Hospital, Sardar Road, Near Railway Garnala, Patan, North Gujarat’, without any change in the approved cost of Rs. 14.44 crore including a corpus fund of Rs. 7.00 crore, as an eligible project or scheme for a further period of three financial years commencing with the financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17.