Exemption u/s 35AC - Central Government had specified for construction, furnishing and equipments of 100 bed hospital at Perumalpuram Tamilnadu, by Indian Medical Centre, Chennai, as an eligible project or scheme - Amendment in Notification No. S.O. 193(E), dated the 14th March, 1965 - S.O.923(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction, furnishing and equipments of 100 bed hospital at Perumalpuram Tamilnadu, by Indian Medical Centre, Chennai, as an eligible project or scheme - Amendment in Notification No. S.O. 193(E), dated the 14th March, 1965 NOTIFICATION NO. S.O.923(E) DATED 20-9-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 193(E), dated the 14th March, 19965, as amended by S.O. 1174(E), dated 26th November, 1999, 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 14, for construction, furnishing and equipments of 100 bed hospital at Perumalpuram, Agastheswaram Panchayat, Kanyakumari District, Tamilnadu, by Indian Medical Centre, 283, T.T.K. Road, Chennai-600 018, as an eligible project or scheme for a period of three years beginning with the assessment year 1997-1998 which was extended further vide Notification No. S.O. 1174(E), dated the 26th November, 1999, for a period of two years beginning with the assessment year 2000-2001; And whereas the said project or scheme is likely to extend beyond five 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 and amending the project cost from ₹ 162.78 lakhs to ₹ 385,78 lakhs; 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), ( a ) hereby specifies the scheme or project of construction, furnishing and equipments of 100 bed hospital at Perumalpuram, Agastheswaram Panchayat, Kanyakumari District, Tamilnadu, which is being carried out by Indian Medical Centre, 283, T.T.K. Road, Chennai-600 018, as an eligible project or scheme for a further period of three years beginning with the assessment year 1 [ 2002-2003 ] ; and ( b ) further amends the said Notification No. S.O. 193(E), dated the 14th March, 19962, to the following effect, namely:-- In the said notification, in the Table against serial number 14, in column (4) relating to maximum cost for which allowed, for the letters, figures and word ₹ 162.78 lakhs , the letters, figures and word ₹ 385.78 lakhs shall be substituted. [No. 294-2001-F. No. N.C-83-2001] ******** Notes 1. Corrected vide NOTIFICATION No. 144 Dated 07-06-2002 before it was read as 2001-2002