Exemption u/s 35AC - Central Government had notified at serial number 8, 'Equipments and vehicle, running of Eye Hospital/camps at Bharatpur, Rajasthan' by Friendship Foundation Trust, Jodhpur Tekra, Ahmedabad, Gujarat, as an eligible project or scheme - S.O. 2380(E) - Income Tax Act, 1961
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Exemption under section 35AC extended for Friendship Foundation's eye hospital scheme, but approval excluded for the elapsed financial year. Notification extends eligibility of the Friendship Foundation Trust project 'Equipments and vehicle, running of Eye Hospital/camps at Bharatpur, Rajasthan' as an eligible project for a further three years beginning with financial year 2007-08, keeping the approved cost at Rs. 50.00 lakh plus a corpus fund of Rs. 30.00 lakh, but expressly disallows validity for financial year 2007-08 for funds collected during that year and prohibits issuance of donation exemption certificates for that year.
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Provisions expressly mentioned in the judgment/order text.
Exemption under section 35AC extended for Friendship Foundation's eye hospital scheme, but approval excluded for the elapsed financial year.
Notification extends eligibility of the Friendship Foundation Trust project "Equipments and vehicle, running of Eye Hospital/camps at Bharatpur, Rajasthan" as an eligible project for a further three years beginning with financial year 2007-08, keeping the approved cost at Rs. 50.00 lakh plus a corpus fund of Rs. 30.00 lakh, but expressly disallows validity for financial year 2007-08 for funds collected during that year and prohibits issuance of donation exemption certificates for that year.
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