045 : Notification 45 Date of Issue 15/2/2007 14 February 2007

NOTIFICATION NO. 45/2007, DATED 15-2-2007

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), Number S.O.676(E), dated the 10th August, 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 8, for Construction of a school building and running of SOS Children's Village at Tamvaram East, Chennai, Tamil Nadu by SOS Children's Villages of India-Chatnath Homes, 7, Raja Krishna Rao Road, Teynampet, Chennai-600018 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.568(E), dated the 20th June, 2001 for a period of three years beginning with assessment year 2002-03 and which was extended further vide notification Number S.O.793(E), dated the 5th July, 2004 for a period of three years beginning with financial year 2004-05;

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 specifying the said project or scheme for a further period of three years and enhancing the project cost from Rs. 60.00 lakhs to Rs. 105.00 lakhs;

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 -

1. specifies the scheme or project for Construction of a school building and running of SOS Children's Village at Tamvaram East, Chennai, Tamil Nadu, which is being carried out by SOS Children's Villages of India-Chatnath Homes, 7, Raja Krishna Rao Road, Teynampet, Chennai- 600018, as an eligible project or scheme for a further period of three years commencing from the financial year 2006-07; and

2. further amends the said notification Number SO. 676(E), dated the 10th August, 1998, to the following effect, namely :-