11329 : Notification: 11329 Date of Issue: 10/4/2000

Notification: 11329 Date of Issue: 10/4/2000

Notification: 11329

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

Statute: INCOME TAX

Date of Issue: 10/4/2000

Whereas by notification of the Government of India in the Ministry of Finance number S.O. 862(E) dated the 12th Dec., 1997 [published (1997) 143 CTR (St) 300], issued under clause (b) to the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 6, purchase and running of Willingdon Hospital at Chennai, by Medical Research Foundation, 18, College Road, Chennai-600006, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99;

And whereas by notification number S.O. 550(E) dated 2nd July, 1998 [published at (1998) 147 CTR (St) 211], the name of the project was amended to " purchase and running of Willingdon Hospital, Chennai, Tamilnadu " ;

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) to the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of purchase and running of Willingdon Hospital at Chennai, which is being carried out by Medical Research Foundation, 18, College Road, Chennai-600006, at the estimated cost of rupees twelve crore only, as an eligible project or scheme for a further period of three years beginning with assessment year 2001-2002.

[F. No. NC-14/2000]