Exemption u/s 35 AC - Central Government had specified the Establishment of Endowment fund for free treatment of impatients and out-patients under Ida-Scudder Centenary Project 2000 of Christian Medical College and Hospital, Tamil Nadu as an eligible project or scheme - S.O.701(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified the Establishment of Endowment fund for free treatment of impatients and out-patients under Ida-Scudder Centenary Project 2000 of Christian Medical College and Hospital, Tamil Nadu as an eligible project or scheme NOTIFICATION NO. S.O.701 ( E ) DATED 3-10-1997 Whereas by notification number S.O. 471(E) dated 26th May, 1995, issued under sub-section (1) read with clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 9, the Establishment of Endowment fund for free treatment of impatients and out-patients under Ida-Scudder Centenary Project 2000 at Vellore, Tamil Nadu of Christian Medical College Vellore Association, Christian Medical College and Hospital, Ida-Scudder Road, Vellore, Tamil Nadu, as an eligible project or scheme for a period of three years commencing from the assessment year 1996-97 ; And whereas the said project of scheme is likely to extend beyond three years ; And whereas the National Committee, 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 sub-section (1) read with clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the establishment of endowment fund for free treatment of impatients and out-patients under Ida-Scudder Centenary Project 2000 at Vellore, Tamil Nadu of Christian Medical College Vellore Association, Christian Medical College and Hospital, Ida-Scudder Road, Vellore, Tamil Nadu, at the estimated cost of rupees one thousand lakhs only as an eligible project or scheme for a further period of three years commencing from the assessment year 1999-2000. [No. 10435/F. No. NC-95/97]