Eligible issue of Capital - Definition / Legal Terminology - Income Tax

Explanation.(e) - For the purposes of section 80HHD of the Income tax Act 1961,- Eligible issue of Capital means- an issue made by a public company formed and registered in India and the entire proceeds of the issue is utilised wholly and exclusively for the purpose of carrying on the business of- ( i ) setting up and running of new hotels approved by the prescribed authority; or ( ii ) providing such new facility for the growth of tourism in India, as the Central Government may, by notification in the Official Gazette, specify .