867(E) : Notification: 867(E) Date of Issue: 21/9/2000

Notification: 867(E) Date of Issue: 21/9/2000

Notification: 867(E)

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. 740(E), dated 12th October, 1994, 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 10 the construction of Phase-I of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan, by Bhagwan Mahaveer Cancer Hospital and Research Centre, Journal House, A-95, Janta Colony, Jaipur, Rajasthan-302 004, as an eligible project or scheme for a period of two years beginning with assessment year 1995-96 which was extended further vide Notification No. S. O. 235(E), dated 21st March, 1996, for a period of two years beginning with the assessment year 1997-98 ; and S. O. 210(E), dated 16th March, 1998, for a period of two years beginning with the assessment year 1999-2000 ;

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 sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of two years and amending the project cost from Rs. 1,380 lakhs to Rs. 1,726 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 of Phase-I of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan, which is being carried out by Bhagwan Mahaveer Cancer Hospital and Research Centre, Journal House, A-95, Janta Colony, Jaipur, Rajasthan-302 004, as an eligible project or scheme for a further period of two years beginning with the assessment year 2001-2002 and ;

(b) further amends the said Notification No. S. O. 740(E), dated 12th October, 1994, to the following effect, namely :---

In the said notification, in the Table against serial number 10, in column (4) relating to "Maximum amount of cost to be allowed as deduction under section 35AC", for the letters, figures and word "Rs. 1,380 lakhs", the letters, figures and word "Rs. 1,726 lakhs" shall be substituted.

[No. 11507/F. No. NC-73/2000]