Exemption u/s 35AC - Central Government had specified for construction of hospital, primary school, Balmandir and funeral home and equipments, furniture and a running of hospital by Madhukant Foundation, Gujarat, as an eligible project or scheme - S.O. 755 (E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of hospital, primary school, Balmandir and funeral home and equipments, furniture and a running of hospital by Madhukant Foundation, Gujarat, as an eligible project or scheme NOTIFICATION NO. 11075 DATED 10-9-1999 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 206(E) dated the 17th March, 1997 [published at (1997) 138 CTR (St) 293], 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 16 construction of hospital, primary school, Balmandir and funeral home and equipments, furniture and a running of hospital at Sadra, Dehgam, District Ahmedabad, Gujarat, by Madhukant Foundation, 5/1, Diamond Square, opposite to Navjivan Press, Navrangpura, Ahmedabad, Gujarat---380014, as an eligible project or scheme for a period of three years beginning with assessment year 1997-98; 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 of hospital, primary school, Balmandir and funeral home and equipments, furniture and a running of hospital at Sadra, Dehgam, District Ahmedabad, Gujarat, which is being carried out by Madhukant Foundation, 5/1, Diamond Square, opposite to Navjivan Press, Navrangpura, Ahmedabad, Gujarat---380014, at the estimated cost of rupees forty-one lakhs nineteen thousand only plus corpus fund of rupees sixteen lakhs, as an eligible project or scheme for a further period of three years commencing from the assessment year 2000-2001. [F. No. NC-91/99]