Notification No.184/2015 [F.No.V.27015/2/2015-SO (NAT.COM)] / SO 1971(E) : Section 35AC of the Income-tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Global Hospital & Research Centre, Mumbai

SECTION 35AC OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES - GLOBAL HOSPITAL & RESEARCH CENTRE, MUMBAI

NOTIFICATION NO.184/2015 [F.NO.V.27015/2/2015-SO (NAT.COM)]/SO 1971(E), DATED 20-7-2015

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.698(E) dated the 3rd October, 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 8, "Construction and running of J.Watumull Global Hospital & Research Centre at Mount Abu, District Sirohi, Rajasthan", by "Global Hospital & Research Centre, 102, Om Shanti, 48, Swastik Society, N.S. Road No.3, Vile Parle (W), Mumbai-400003", as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999, which was extended further vide notification number S.O.863(E) dated the 21st September, 2000 for a period of three years beginning with assessment year 2001-2002, which was extended further vide notification number S.O.1126(E) dated the 29th September, 2003 for a period of three years beginning with assessment year 2004-2005, which was extended further vide notification number S.O.241(E) dated the 15th February, 2007 for a period of three years beginning with financial year 2006-2007, which was extended further vide notification number S.O. 842(E) dated 25th March, 2009 for a period of three years beginning with financial year 2009-10 and which was extended further vide notification number S.O. 1085(E) dated 14th May, 2012 for a period of three years beginning with financial year 2012-13;

And whereas by notification number S.O.241(E) dated the 15th February, 2007 the estimated cost was enhanced from Rs.61.27 lakh plus a corpus fund of Rs. 500.00 lakh to Rs. 1361.27 lakh including a corpus fund of Rs.500.00 lakh and whereas by notification number S.O. 1085 (E) dated 14th May, 2012 2007 the estimated cost was further enhanced from Rs. 1361.27 lakh including a corpus of Rs. 500 lakh to Rs. 3100.00 lakh including a corpus of Rs. 500 lakh;

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

And whereas the National Committee for 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), (a) hereby notifies the scheme or project , "Construction and running of J.Watumull Global Hospital & Research Centre at Mount Abu, District Sirohi, Rajasthan" which is being carried out by "Global Hospital & Research Centre, 102, Om Shanti, 48, Swastik Society, N.S. Road No.3, Vile Parle (W), Mumbai-400003", as an eligible project or scheme without any change in the approved cost of Rs. 3100.00 lakh including a corpus of Rs. 500 lakh, for a further period of three years commencing with financial year 2015-16 i.e. 2015-16, 2016-17 and 2017-18.

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