11070 : Notification: 11070 Date of Issue: 10/9/1999

Notification: 11070 Date of Issue: 10/9/1999

Notification: 11070

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

Statute: INCOME TAX

Date of Issue: 10/9/1999

Whereas by notification of the Government of India in the Ministry of Finance number S.O. 93(E) dated the 7th February, 1997 [published at (1997) 137 CTR (St) 49], 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 1 construction of Marathwada Medical Research and Rural Development Institute-First Phase at Plot No. A1 and A2, MIDC Chikalthana, Aurangabad and furnishing thereof (including cost of equipments), by Marathwada Medical Research and Rural Development Institute, Shri Nandlalji Dhoot Hospital, Plot Nos. A1 and A2, MIDC Chikalthana, Aurangabad-10, as an eligible project or scheme for a period of three years beginning with assessment year 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 of Marathwada Medical Research and Rural Development Institute-First Phase at Plot No. A1 and A2, MIDC Chikalthana, Aurangabad and furnishing thereof (including cost of equipments), which is being carried out by Marathwada Medical Research and Rural Development Institute, Shri Nandlalji Dhoot Hospital, Plot Nos. A1 and A2, MIDC Chikalthana, Aurangabad-10, at the estimated cost of rupees eight crores twenty-one lakhs fifty-seven thousand only as an eligible project or scheme for a further period of three years commencing from the assessment year 2000-2001.

[F. No. NC-91/99]