11496 : Notification: 11496 Date of Issue: 21/9/2000

Notification: 11496 Date of Issue: 21/9/2000

Notification: 11496

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

Statute: INCOME TAX

Date of Issue: 21/9/2000

Whereas by notification of the Government of India in the Ministry of Finance number S.O. 591(E) dated the 20th August, 1997 [published at (1997) 141 CTR (St) 13], issued under 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 3 the land, construction of building, equipments/instruments and running of M.D. Patel Sarvoday Eye/Orthopaedic Hospital at Sanand, District Ahmedabad, Gujarat, by Adhyatmik Antarik Mandal, Nala's Bhogal, Near Bus Stand, Sanand-382110, District Ahmedabad, Gujarat as an eligible project or scheme for a period of three years beginning with assessment year 1998-99;

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 subrule (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 land, construction of building, equipments/instruments and running of M.D. Patel Sarvoday Eye/Orthopaedic Hospital at Sanand, District Ahmedabad, Gujarat, which is being carried out by Adhyatmik Antarik Mandal, Nala's Bhogal, Near Bus Stand, Sanand-382110, District Ahmedabad, Gujarat, at the estimated cost of rupees seventy lakhs plus a corpus fund of rupees fifty lakhs only, as an eligible project or scheme for a further period of three years beginning with assessment year 2001-2002.

[F. No. NC-73/2000]