Exemption u/s 35AC - Approved "Sri Sathya Sai Medical Trust, Anantapur (Andhra Pradesh)" as an eligible project or scheme - S.O.614(E) - Income Tax

Exemption u/s 35AC - Approved "Sri Sathya Sai Medical Trust, Anantapur (Andhra Pradesh)" as an eligible project or scheme NOTIFICATION NO. S.O.614 ( E ) DATED 23-8-1994 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), the Central Board of Direct Taxes, vide S.O. No. 244(E), dated 27th March, 1992, under clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee, specifies the project of Sri Sathya Sai Medical Trust, Ananatpur (Andhra Pradesh), for the establishment of the Urology, Nephrology Unit (at estimated cost of Rs. 5 crores) and the Neurology Unit (at estimated cost of Rs. 7.5 crores) in the Speciality Hospital at Prasanthi Nilayam, Anantapur (Andhra Pradesh) to be an eligible project for the purpose of the aforesaid clause ; And whereas the National Committe is satisfied that the eligible project is being executed properly ; Now, therefore, in exercise of the powers conferred by clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), read with sub-rule (5) of rule 11M of the Income-tax Rules, 1962, on the recommendations of the National Committee, the Central Government hereby approves the institution "Sri Sathya Sai Medical Trust, Anantapur (Andhra Pradesh)" and specifies the eligible projects and schemes in the Speciality Hospital at Prasanthi Nilayam, Anantapur, for ( a ) establishment and maintenance of urology and nephrology units (at estimated cost of Rs. 5 crores) and ( b ) establishment and maintenance of neurology unit (at estimated cost of Rs. 7 crores) for a further period of two years in relation to the assessment years 1995-96 and 1996-97. [No. 9589/F. No. NC-77/94]