Notification No.110/2015 [F.No.V.27015/4/2014-SO(NAT.COM)] / SO 480(E) : Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Jain Social Federation's Anandrishiji Hospital & Medical Research Centre, Maharashtra

SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES - JAIN SOCIAL FEDERATION's ANANDRISHIJI HOSPITAL & MEDICAL RESEARCH CENTRE, MAHARASHTRA

NOTIFICATION NO.110/2015 [F.NO.V.27015/4/2014-SO(NAT.COM)]/SO 480(E), DATED 11-2-2015

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.234(E) dated the 35th February, 2007, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 15, "Purchase and installation of plant and machinery, expansion of infrastructure" by "Jain Social Federation's Anandrishiji Hospital & Medical Research Centre, Plot No. 124, Anandrishiji Marg, Ahmednagar-414001 (Maharashtra)", as an eligible project or scheme for a period of two years beginning with financial year 2006-2007; which was extended further vide notification number S.O.1477(E) dated 17th June, 2008 for a further period of three years beginning with the financial year 2008-09 and which was further extended vide notification number S.O. 1395(E) dated 14.6.2011 for a period of three years ending with financial year 2013-14;

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

And, whereas, the National Committee for the Promotion of Social and Economic Welfare, 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 extending 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 notifies the scheme or project "Purchase and installation of plant and machinery, expansion of infrastructure" being carried out by "Jain Social Federation's Anandrishiji Hospital & Medical Research Centre, Plot No. 124, Anandrishiji Marg, Ahmednagar-414001 (Maharashtra)", without any change in the approved cost of Rs.11.30 crore, as an eligible project or scheme for a. further period of three financial years commencing with the financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17.

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