Exemption u/s 35 AC - Central Government had specified the construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra) as an eligible project or scheme - S.O. 199(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified the construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra) as an eligible project or scheme NOTIFICATION NO. S.O. 199 ( E ) DATED 12-3-1998 Whereas by notification number S. O. 887(E), dated 22nd November, 1993, 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 2, the construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra), as an eligible project or scheme for a period of two years beginning with the assessment year 1994-95 which was extended for a further period of three assessment years ending with the assessment year 1998-99, vide S.O. No. 294(E), dated 4th April, 1995 ; And whereas the said project or scheme is likely to extend beyond five 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 and enhancing the approved cost to rupees seven hundred lakhs only ; 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 construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra), at the estimated cost of rupees seven hundred lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10544/F. No. NC-9/98]