Exemption u/s 35AC - Central Government had specified for construction of extension for hospital building, purchase of equipments-ambulance for Shri Nandlal Mulji Bhuta Medical Foundation by Nandlal Mulji Bhuta Medical Foundation, Gujarat, as an eligible project or scheme - S.O.905(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of extension for hospital building, purchase of equipments-ambulance for Shri Nandlal Mulji Bhuta Medical Foundation by Nandlal Mulji Bhuta Medical Foundation, Gujarat , as an eligible project or scheme NOTIFICATION NO. S.O.905(E) DATED 20-9-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 832(E), dated the 18th September, 1998 2, issued under 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 18, for construction of extension for hospital building, purchase of equipments-ambulance for Shri Nandlal Mulji Bhuta Medical Foundation at Sihor, District Bhavnagar, Gujarat by Nandlal Mulji Bhuta Medical Foundation, Station Road, Sihor, Gujarat State-364 240, 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 has, 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 extension for hospital building, purchase of equipments-ambulance for Shri Nandlal Mulji Bhuta Medical Foundation at Sihor, District Bhavnagar, Gujarat, which is being carried out by Nandlal Mulji Bhuta Medical Foundation, Station Road, Sihor, Gujarat State-364 240, at the estimated cost of rupees two crores sixty four lakhs plus a corpus fund of rupees three crores only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2002-2003. [No. 276-2001-F.No. N.C-83-2001]