U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Karuna Setu Trust, Vadnagar, Gujarat

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....ent of Revenue) number S.O.96(E) dated the 11th February, 1999, 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 5, "Running of hospital, purchase of equipments and welfare activities at Vadnagar, Mehsana District, Gujarat" by "Karuna Setu Trust, Vadnagar- 384355, Gujarat, as an eligible projec....

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....nd whereas by notification number S.O.1120(E) dated the 24th October, 2002 the estimated cost was enhanced from ₹ 67.48 lakh to ₹ 142.03 lakh including a corpus fund of ₹ 50.00 lakh; vide notification number S.O.381(E) dated the 19th March 2004 the estimated cost was further enhanced from ₹ 142.00 lakh to ₹ 184.50 lakh including a corpus fund of ₹ 50.00 lakh; vi....

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....nal Committee for the 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. However, the exemption u/s 35AC will not apply to the funds received under Schedule VII of ....