Exemption u/s 35AC - Central Government had specified for Furnishing and Equipment of Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati as an eligible project or scheme - S. O. 564(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Furnishing and Equipment of Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati as an eligible project or scheme NOTIFICATION NO. S. O. 564 ( E ) DATED 7-7-1998 Whereas by Notification Number S. O. 194(E), dated 13th March, 1995, 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 at serial number 3, Furnishing and Equipment of Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati of which 51 per cent. beneficiaries would be patients who are living below poverty line or patients staying in Government hospitals' general ward for providing them tested and screened blood free of cost of the Assam Gujarat Charitable Trust, Hem Baruah Road, Fancy Bazar, Guwahati-781 001, Assam, as an eligible project or scheme for a period of one year, i.e., assessment year 1996-97 which was extended for two more years beginning with the assessment year 1997-98 by notification S. O. 484(E), dated 5th July, 1996; And whereas the said project or 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 the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Furnishing and Equipment of Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati of which 51 per cent. beneficiaries would be patients who are living below poverty line or patients staying in Government hospitals' general ward for providing them tested and screened blood free of cost of the Assam Gujarat Charitable Trust, Hem Baruah Road, Fancy Bazar, Guwahati-781 001, Assam, at the estimated cost of rupees thirty three lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10639/F. No. NC-50/98]