Exemption u/s 35AC - Central Government specifies the five Bombay Heart Brigades in Bombay city of the Rotary Club of Bombay Medical Trust, Bombay as an eligible project or scheme - S.O.724(E) - Income Tax

Exemption u/s 35AC - Central Government specifies the five Bombay Heart Brigades in Bombay city of the Rotary Club of Bombay Medical Trust, Bombay as an eligible project or scheme NOTIFICATION NO. S.O.724 ( E ) DATED 17-8-1995 Whereas by Notification No. S.O. 15(E), dated 11th January, 1994 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 5 as amended by Notification No. S.O. 525(E), dated 14th July, 1994, the five Bombay Heart Brigades in Bombay city of the Rotary Club of Bombay Medical Trust, Indian Red Cross Society Building, 2nd Floor, 141, Shahid Bhagatsingh Road, Bombay-400 023, 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 and also increasing the project cost from Rs. 30.00 lakhs to 60.00 lakhs ; 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 five Bombay Heart Brigades in Bombay city of the Rotary Club of Bombay Medical Trust, Indian Red Cross Society Building, 2nd Floor, 141, Shahid Bhagatsingh Road, Bombay-400 023, at the estimated cost of rupees sixty lakhs as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1996-97. [No. 9842/F. No. NC-77/95]