Exemption u/s 35AC - Central Government had specified for construction of building for expansion of hospital, purchase of equipments, vehicle, furnishing and running of Eye by Lions Comprehensive Eye Care Foundation, Miraj, Maharashtra, as an eligible project or scheme - S.O.1212(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of building for expansion of hospital, purchase of equipments, vehicle, furnishing and running of Eye by Lions Comprehensive Eye Care Foundation, Miraj, Maharashtra , as an eligible project or scheme NOTIFICATION NO. S.O.1212(E) DATED 12-12-2001 Whereas by notification of the Government of India in the Ministry of Finance Number S. 0. 422(E), dated the 19th May, 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 13, for construction of building for expansion of hospital, purchase of equipments, vehicle, furnishing and running of Eye Hospital at MIDC, Miraj, Sangli District of Maharashtra, by Lions Comprehensive Eye Care Foundation, Miraj, Plot No. P-31 M.I.D.C., Miraj-416 410, District Sangli, Maharashtra, as an eligible project or scheme for a period of three years commencing from 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 building for expansion of hospital, purchase of equipments, vehicle, furnishing and running of Eye Hospital at MIDC, Miraj, Sangli District of Maharashtra, which is being carried out by Lions Comprehensive Eye Care Foundation, Miraj, Plot No. P-31, M.I.D.C. Miraj-416 410, District Sangli, Maharashtra, at the estimated cost of rupees two crores ninety seven lakhs only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2002-2003. [No. 360-2001/F. No. NC-106/2001]