Exemption u/s 35AC - Central Government had specified for running of hospital, purchase of equipment and welfare activities by Karuna Setu Trust, Vadnagar, Gujarat, as an eligible project or scheme - 29(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for running of hospital, purchase of equipment and welfare activities by Karuna Setu Trust, Vadnagar, Gujarat , as an eligible project or scheme NOTIFICATION NO. 29(E) DATED 10-1-2001 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 96(E), dated 11th February, 1999 issued under clause ( b ) to the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 5, running of hospital, purchase of equipment and welfare activities at Vadnagar, Mehsana District, Gujarat by Karuna Setu Trust, Vadnagar-384355, Gujarat, as an eligible project or scheme for a period of three years beginning with the assessment year 1999-2000 ; 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 ) to the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of running of hospital, purchase of equipment and welfare activities at Vadhagar, Mehsana District, Gujarat, which is being carried out by Karuna Setu Trust, Vadnagar---384355, Gujarat, at the estimated cost of rupees sixty seven lakhs forty eight thousand including a corpus fund of rupees thirty lakhs only, as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 2002-2003. [No. 6-2001-F. No. NC-127-2000]