Notification: 377 Date of Issue : 9/12/2002

Notification No : 377

Date of Issue : 9/12/2002

Section(s) Referred : s. 35AC

Notification No. 377 of 2002, dt. 9th Dec., 2002

Whereas by notification of the Government of India in the Ministry of Finance number S.O. 180(E) dated the 10th March, 1997, 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 17, for Construction, purchase of equipments and furnishing of a 50 bed Hospice for the care of the terminally ill Cancer patients at Bangalore, Karnataka, by Bangalore Hospice Trust C/o India Cancer Society, New Thippasundra Main Road, HAL, 3rd Stage, Bangalore-560075 as an eligible project or scheme for a period of three years beginning with assessment year 1997-98 which was extended further vide notification number S.O. 156(E) dated 23rd February, 2000, for a period of three years beginning with assessment year 2000-2001;

And whereas the said project or scheme is likely to extend beyond six 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 and amending the project cost from Rs. 271.50 lakhs to Rs. 423.00 lakhs;

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),--

(a) hereby specifies the scheme or project of Construction, purchase of equipments and furnishing of a 50 bed Hospice for the care of the terminally ill Cancer patients at Bangalore, Karnataka which is being carried out by Bangalore Hospice Trust C/o Indian Cancer Society, New Thippasundra Main Road, HAL, 3rd Stage, Bangalore-560075 as an eligible project or scheme for a further period of three years beginning with the assessment year 2003-2004; and

(b) further amends the said notification number S.O. 180(E) dated the 10th March, 1997, to the following effect, namely :

In the said notification, in the Table against serial number 17, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word "Rs. 271.50 lakhs", the letters, figures and word "Rs. 423.00 lakhs" shall be substituted.

F.No.NC-113/2002]