Exemption u/s 35AC - Central Government had specified construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra) as an eligible project or scheme - S.O.294(E) - Income Tax

Exemption u/s 35AC - Central Government had specified construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra) as an eligible project or scheme NOTIFICATION NO. S.O.294 ( E ) DATED 4-4-1995 Whereas by Notification No. S.O. 887(E), dated 22nd November, 1993, issued under clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2 the construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra), as an eligible project or scheme for a period of two assessment years commencing from the assessment year 1994-95 ; And whereas the said project or scheme is likely to extend beyond two 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 clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961, hereby specifies the construction of community care and research centre at Miraj in Maharashtra of the Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra) at the estimated cost of rupees two crores forty-seven lakhs seventy thousand, as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1996-97. [No. 9742/F. No. NC-4/95]