NOTIFICATION No. 149/2005, Dated 25-5-2005
Whereas
by notification of the Government of India in the Ministry of Finance
(Department of Revenue) number S.O.832(E) dated the 18th September,
1998, issued under sub-section (1) read with clause (b) of the Explanation to
section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government
had specified at serial number 7, for Running of Founding-cum-adoption centre
for orphaned and destitute children and abandoned babies at Raja Krishna Rao
Road, Teynampet, Chennai, by Karna Prayag Trust, 7, Raja Krishna Rao Road,
Teynampet, Chennai-600018, Tamilnadu, as an eligible project or scheme for a
period of three years beginning with assessment year 1999-2000 which was
extended further vide notification number S.O.1047(E) dated the 18th
October, 2001 for a period of three years beginning with assessment year
2002-2003,
And whereas
by notification number S.O. 287(E) dated 28th March, 2001, the
estimated cost was amended from Rs.60.00 lakhs as corpus fund to Rs.40.00 lakhs
plus a corpus fund of Rs.20.00 lakhs;
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 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
subsection (1) read with clause (b) of the Explanation to section 35AC of the
Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project for
Running of Founding-cum-adoption centre for orphaned and destitute children and
abandoned babies at Raja Krishna Rao Road, Teynampet, Chennai, which is being
carried out by Karna Prayag Trust, 7, Raja Krishna Rao Road, Teynampet,
Chennai-600018, without any change in the approved cost i.e. Rs.40.00 lakhs
plus a corpus fund of Rs.20.00 lakhs, as an eligible project or scheme for a
further period of three years commencing from the financial year 2004-2005.
[F.No. NC-270/11/2005]