10911 : Notification: 10911 Date of Issue: 11/5/1999

Notification: 10911 Date of Issue: 11/5/1999

Notification: 10911

Section(s) Referred: s. 35AC(1)(b) ,r. 11M(5)

Statute: INCOME TAX

Date of Issue: 11/5/1999

Whereas by notification of the Government of India in the Ministry of Finance number S.O. 193(E) dated the 14th March, 1996 [published at (1996) 131 CTR (St) 37], issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 11---Construction, furnishing, equipments of hospital and Research Institute at Melmaruvathur, Tamilnadu, of Adhiparasakthi Charitable Medical, Educational and Cultural Trust, Melmaruvathur---603319, Chengai MGR District, Tamilnadu, as an eligible project or scheme for a period of three years beginning with asst. yr. 1997-98 ;

And whereas the said project or scheme is likely to extend beyond three years ;

And whereas the National Committee, 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 sub-section (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 of construction, furnishing, equipments of hospital and Research Institute at Melmaruvathur, Tamilnadu, which are being carried out by Adhiparasakthi Charitable Medical, Educational and Cultural Trust, Melmaruvathur---603319, Chengai MGR District, Tamilnadu, at the estimated cost or rupees twenty-one crore sixty-four lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 2000-2001.

[F. No. NC-39/99]