Exemption u/s 35AC - Central Government had specified the Venu Eye Institute and Research Centre at Sheikh Sarai, New Delhi, of Venu Charitable Society, New Delhi, as an eligible project or scheme - S. O. 224(E) - Income Tax

Exemption u/s 35AC - Central Government had specified the Venu Eye Institute and Research Centre at Sheikh Sarai, New Delhi, of Venu Charitable Society, New Delhi, as an eligible project or scheme NOTIFICATION NO. S. O. 224 ( E ) DATED 1-4-1999 Whereas by Notification No. S. O. 844(E), dated 17th October, 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, Venu Eye Institute and Research Centre at Sheikh Sarai, New Delhi, of Venu Charitable Society, South Extension Part II, New Delhi, as an eligible project or scheme for a period of three years beginning with the 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 Venu Eye Institute and Research Centre at Sheikh Sarai, New Delhi, which is being carried but by Venu Charitable Society, South Extension, Part II, New Delhi, at the estimated cost of rupees twelve crore sixty lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000. [No. 10856/F. No. NC-1/99]