Exemption u/s 35AC - Central Government had specified for construction, equipment, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre of Smt. Lakshmi and Shri Janki Lal Shah Foundation, Mumbai as an eligible project or scheme - S. O. 688(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction, equipment, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre of Smt. Lakshmi and Shri Janki Lal Shah Foundation, Mumbai as an eligible project or scheme NOTIFICATION NO. S. O. 688 ( E ) DATED 11-8-1998 Whereas by Notification Number S. O. 973(E), dated 14th December, 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 4, construction, equipment, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre of Smt. Lakshmi and Shri Janki Lal Shah Foundation, 9, Naples, Sobani Road, Cuffe Parade, Mumbai-400 005, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97; 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 construction, equipment, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre of Smt. Lakshmi and Shri Janki Lal Shah Foundation, 9, Naples, Sobani Road, Cuffe Parade, Mumbai-400 005, at the estimated cost of rupees two hundred lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000. [No. 10669/F. No. NC-80/98]