555E- : Notification: S.O.555(E) Date of Issue: 20/6/2001

Notification: S.O.555(E) Date of Issue: 20/6/2001

Notification: S.O.555(E)

Section(s) Referred: s. 35AC

Statute: INCOME TAX

Date of Issue: 20/6/2001

dNotification No. S.O. 555(E), dated 20th June, 2001.

Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 676(E), dated 11th August, 19982, 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 11, for purchase of equipments and providing facilities for intraoccular lens operation at Morbi, Rajkot, Gujarat, by Smt. Rekhaben Kataria Smruti Trust-Morbi, C/o. Dr. V. C. Kataria, C-3/17, Lalabang, Same-Kanthe, Morbi-36364l, Rajkot, Gujarat, as an eligible project or scheme for a period of three years beginning with the assessment year 1999-2000;

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

And whereas the National Committee has, being satisfied that the 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 and amending the project cost from Rs. 21 lakhs to Rs. 33 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 purchase of equipments and providing facilities for intra-occular lens operation at Morbi Rajkot, Gujarat, which is being carried out by Smt. Rekhaben Kataria Smruti Trust-Morbi, C/o. Dr. V. C. Kataria, C-3/17, Lalabang, Same-Kanthe, Morbi363641, Rajkot, Gujarat, as an eligible project or scheme for a further period of three years beginning with the assessment year 2002-2003; and

(b) further amends the said Notification No. S. 0. 676(E), dated the 11th August, 1998, to the following effect, namely:--

In the said notification, in the table against serial number 11, in column (4) relating to maximum cost for which allowed, for the letters, figures and word "Rs. 21 lakhs" the letters, figures and word "Rs. 33 lakhs" shall be substituted.

[No. 169/2001.F.No. N.C. 61/2001]