Exemption u/s 35 AC - Central Government specified the construction, furnishing and running of OPD, Cobalt Therapy and Dental Hospital at District Ahmednagar, by Pravara Medical Trust, Ahmednagar, Maharashtra as an eligible project or scheme - S.O.404(E) - Income Tax

Exemption u/s 35 AC - Central Government specified the construction, furnishing and running of OPD, Cobalt Therapy and Dental Hospital at District Ahmednagar, by Pravara Medical Trust, Ahmednagar, Maharashtra as an eligible project or scheme NOTIFICATION NO. S.O.404 ( E ) DATED 6-6-1996 Whereas by notification, vide S. O. No. 839(E), dated 22nd November, 1996, 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 serial number 2, the construction, furnishing and running of OPD, Cobalt Therapy and Dental Hospital at District Ahmednagar, Maharashtra, by Pravara Medical Trust, Ahmednagar, Maharashtra, as an eligible project or scheme for a period of two years commencing from the assessment year 1995-96 ; And whereas the said project or scheme is likely to extend beyond two years ; 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 construction, furnishing and running of OPD, Cobalt Therapy and Dental Hospital at District Ahmednagar, Maharashtra, which are being carried out by Pravara Medical Trust, Ahmednagar, Maharashtra, at the estimated cost of rupees three crores forty-one lakhs ninety thousand only as an eligible project or scheme for a period of two assessment years, i.e., assessment years 1997-98 and 1998-99. [No. 10108/F. No. NC-73/96]