Notification No. 52/2015 [F.No. 203/20/2015-ITA.II]

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; Government Of India
Ministry of Finance
Department of Revenue
Central Board Of Direct Taxes
Notification
FORM No, 3CP
| Name, address and PAN of the applicant M/s DCM Shriram Consoliated Limited , |
New Delhi
= — PAN:- AAACDOO97R
Title of the agricultural extension Project Sugar manufacturing & Co-
es eer generation of Power _
Purpose of the agricultural extension | To improve Sugarcane Productivity by project educating farmers of best practices and adopting new / advanced technologies in area of sugar units at Ajbapur, Rupapur,
Hariawan & Loni in the state of UP
ft ] Reference No. and date of the application F.No. 203/20/2015-ITA.1T received on
14.05.2015
Date of commencement of the agricultural Already commenced. However, approval extension Project Shall be effective from the date of issue of formal Notification u/s 35CCC of the
_ Income-tax Act, 1961 (Act) a,
Duration of the agricultural extension Ongoing Project
Droject in months
Assessment year(s) for which — the From date of formal issue of agricultural extension Project jis being Notification till 31.03.2016
notified (not exceeding three yéars) wae pe = _
Total expenses likely to be incurred for the | For F.Yrs 2013-14 2014-15 and 2015-16
agricultural extension Project (other than applicant has Claimed expenses of z
Cost of land or building) 2,99,00,000/-, x 4,62,00,000/- and =
>,57,00,000/-respectively, However, as far as F.Yr,’s 2013-14 and 2014-15 are concerned, claim u/s 35CCc is not allowable as weighted deduction can be allowed Only from date of formal issue of notification. While for F.Yr, 2015-16, likely expenditure would be less than %
—_{ 5,57,00,000/-., _ —_—_
Amount, if any, to be charged from each | NIL
beneficiary of agricultural extension project. ae —
lee I 10. Conditions leusjc to which agricultural extension project titled ‘Project Sugar erences & Cogeneration Of Power’ js being notified are as under:
i ig a _.
aad i. The approved entity undertaking agricultural extension Project shall maintain= ~~~
[RAE | The app oks of account of the agricultural extension Project notified UNder. Subse *:} |
iOq-[V section (1)} of section 35CCC, and get such books of account audited - by Mh a5
[niin untant @s defined in the Explanation below sub-section (2) of section 288. |
cacmengeazaes aX | cae ve, UCC |
ara wraas aA. ew) ¥ \«) <n { Sam Ro ~ RAD ‘4 |
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[ae ore eat me as Ws t

a il. The audit report referred to in sub-rule (1) shall include the comments of the auditor on the true and fair view of the books of account maintained for agricultural extension Project, the Senuineness of the activities of the agricultural extension psoas: pene ia Conditions specified in the relevant Provisions of the Act

Or the condi ions Mentioned j j j z
OF sub-rule (9) of nad EAD d in the notification issued uNder sub-rule (6)
ill. The approved entity shall not accept any amount from the beneficiaries under the eligible agricultural extension Project for training, education, guidance or for any
Material so distributed for the said Purposes,

iv. The approved entity shall not get any direct or indirect benefit from the notified agricultural extension Project Except the deduction of the eligible expenditure in accordance with the Provisions of Section 35CCC of the Act, rule GAAD of I.T.Rules
1962 and this Notification, The approved Entity shall also not name any of their agricultural extension Project/activity/scheme on the brand name of any of their
Products,

Vv. The applicant shail furnish data sheet of farmers who have benefitted from the
Project to the Ministry of Agriculture, Further, the applicant shall also share the data
Pertaining to Soil Health and also provide information regarding availability of additional Capacity of Soil Testing Laboratory available with Ministry of Agriculture,

Vi. All expenses (not being xpenditure in the nature of cost of any land or building), as reduced by the amount received from beneficiary, if any, incurred wholly and exclusively for undertaking an eligible agricultural xtension Project shall be eligible for deduction under section 35CCC:

Provided that any expenditure incurred on the agricultural extension project which is reimbursed or reimbursable to the assessee by any Person, whether directly

or indirectly, shall not be eligible for deduction under section 35CCC.

Vii. Where a deduction under this section 35CC of the Act is claimed and allowed for any assessment year, deduction shall not be allowed in respect of such expenditure under any other Provisions of the Act for the Same or any other assessment year,

vill. The approved entity shall, on or before the due date of furnishing the return of income under sub-section (1) of section 139, furnish the following to the jurisdictional PCIT/CIT/PDIT/DIT, as the case may be, namely:-

a) the audited statement of accounts of the agricultural extension projects for the
Previous year along with the audit report and amount of deduction claimed under sub-section (1) of section 35CCC;

b) a note on the agricultural extension Project undertaken by it during the Previous year and the Programme of agricultural extension project to be undertaken during the current year and the financial allocation for such programme; and

c) a certificate from the Ministry of Agriculture, Government of India, regarding the genuineness of the agricultural extension Project undertaken by the assessee during the Previous year,

—V—_—
ix. Under the project only product neutral training will be given except a short session on company’s profile and products. Further, the farmers benefitted under the project will have the privilege of supplying sugarcane to any sugar factory.
11. The Central Board of Direct Taxes shall withdraw the approval if the approved entity:-
a) has ceased its activities; or b) its activities are not genuine; or
Cc) its activities are not being carried out in accordance with all or any of the relevant provisions of the Act or Rules; or d) its activities are not being carried out in accordance with all or any of the conditions subject to which the notification is being issued.
Place: New-Delhi Sd i
Dated: 26/06/2015
{Rohit Garg)
Deputy Secretary to the Govt. of India (F.No. 203/20/20 15-ITA.II)
Notification No. 52/2015
To
The Manager,
Govt. of India Press,
Mayapuri, New Delhi
Copy forwarded to:
1. DCM Shriram consoliated Limited 5 Floor, Kanchenjunga Building 18,
Barakhamba Road New Delhi.
2. Ministry of Agriculture, Krishi Bhawan, New-Delhi
3. Pr. Commissioner of Income-tax concerned
4. The Department of Agriculture of the concerned State
5. The Agricultural Technology Management Agency (ATMA) of the concerned
District(s)
6. Comptroller & Auditor General of India
7. Pr. CCIT, New Delhi, with the request to inform the Board about compliance of condition at 10(viii) within 60 days from the due date of filing of return in case of the assessee.
8. Concerned file
9, Ministry of Law & Justice (correction section), New Delhi
10. O/o Pr. DGIT(Systems), New Delhi for placing on the website:
incometaxindia.gov.in
11. ITCC, CBDT (4 copies)
12. Guard File =
(Rohit Garg)
Deputy Secretary to the Govt. of India