U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On – Karnatak Health Institute, Belgaum, Karnataka - S.O.563(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 177/2001 New Delhi, the 20 th June, 2001 S.O. 563(E).- Whereas by notification of the Government of India in the Ministry of Finance number S.O.422(E) dated the 19 th May, 1998 issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (45 of 1961) , the Central Government had specified at serial number 12, for (a) Establishment of Mini Hydel Project at Gokak Canal, Karnataka; and (b) Running of Hospital with freeship for poor patients at Ghataprabha, Belgaum District, Karnataka Slate, by Karnatak Health Institute, Ghataprabha - 591310, District - Belgaum, Karnataka State, as an eligible project or scheme for a period of three years beginning with 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 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 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 specifies the scheme or project of (a) Establishment of Mini Hydel Project at Gokak Canal, Karnataka; and (b) Running of Hospital with freeship for poor patients at Ghataprabha, Belgaum District, Karnataka State, which is being carried out by Karnatak Health Institute, Ghataprabha - 591310, District - Belgaum, Karnataka State, at the estimated cost of rupees five crores only, as an eligible project or scheme for a further period of three years beginning with assessment year 2002 2003. [F. No. NC-61/2001] POMELA B. PRASAD, Director (N C)