Exemption u/s 35AC - Central Government had specified for purchase of equipments, furnishing and construction of building and development of a 80 bedded nature care hospital by Mahatama Prakriti Chikilsa Kendram, Taliparamba, Kerala, as an eligible project or scheme - S.O.926(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for purchase of equipments, furnishing and construction of building and development of a 80 bedded nature care hospital by Mahatama Prakriti Chikilsa Kendram, Taliparamba, Kerala, as an eligible project or scheme NOTIFICATION NO. S.O.926(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, 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 10, for purchase of equipments, furnishing and construction of building and development of a 80 bedded nature care hospital at Taliparamba, Kannur District, Kerala, by Mahatama Prakriti Chikilsa Kendram, Court Road, Taliparamba-670 141, Kerala, 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 purchase of equipments, furnishing and construction of building and development of a 80 bedded nature care hospital at Taliparamba, Kannur District, Kerala, which is being carried out by Mahatama Prakriti Chikilsa Kendram, Court Road, Taliparamba-670 141, Kerala, at the estimated cost of rupees one crore fifty five lakhs forty five thousand only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2002-2003. [No. 297-2001-F.No. N.C-83-2001]