Exemption u/s 35 AC - Central Government had specified for Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block to benefit people living in and around Tambaram of Hindu Mission Hospital, Chennai as an eligible project or scheme - S.O. 55(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified for Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block to benefit people living in and around Tambaram of Hindu Mission Hospital, Chennai as an eligible project or scheme NOTIFICATION NO. S.O. 55 ( E ) DATED 16-1-1998 Whereas by Notification Number S.O. 228(E), dated the 17th March, 1994, 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 10, Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block (7,400 sq. ft. area for each), to benefit people living in and around Tambaram of Hindu Mission Hospital, 36, G. S. T. Road, Chennai-600 045, as an eligible project or scheme for a period of three years beginning with the assessment year 1994-95; And whereas by Notification No. S.O. 483(E), dated the 5th July, 1996, the said project or scheme was specified as an eligible project or scheme for a further period of three years commencing from the assessment year 1997-98; And whereas the said project or scheme is likely to extend beyond six 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 one year and enhancing the estimated cost to rupees two hundred fifty lakhs; 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 Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block (7,400 sq. ft. area for each) to benefit people living in and around Tambaram of Hindu Mission Hospital, 36, G. S. T. Road, Chennai-600 045, at the estimated cost of rupees two hundred fifty lakhs only as an eligible project or scheme for a further period of one year, i.e., assessment year 2000-2001. [No. 10509/F. No. NC-153/97]