Exemption u/s 35 AC - Central Government had specified the construction of Ujjain Charitable Trust Hospital and Research Centre at Budhwaria by Ujjain Charitable Trust Hospital, and Research Centre, Ujjain as an eligible project or scheme - S.O.232(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified the construction of Ujjain Charitable Trust Hospital and Research Centre at Budhwaria by Ujjain Charitable Trust Hospital, and Research Centre, Ujjain as an eligible project or scheme NOTIFICATION NO. S.O.232 ( E ) DATED 21-3-1996 Whereas by notification, vide S. O. No. 602(E), dated 12th August, 1993, issued under sub-section (1) read with clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified the scheme at Sl. No. 4, the construction of Ujjain Charitable Trust Hospital and Research Centre at Budhwaria in Ujjain, by Ujjain Charitable Trust Hospital, and Research Centre, Ujjain, as an eligible project or scheme for a period of one assessment year in relation to the assessment year 1996-95 ; And whereas the said project or scheme is likely to extend beyond one year ; And whereas the National Committee being satisfied that the said project or scheme is 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 two 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 of the construction of Ujjain, Charitable Trust Hospital and Research Centre at Budhwaria in Ujjain, which are being carried out by Ujjain Charitable Trust Hospital and Research Centre, Ujjain, at the estimated cost of rupees one crore fifty lakhs only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1997-98. [No. 10032/F. No. NC-15/96]