Exemption u/s 35AC - Central Government had specified for project "Eye Hope" by Eye Bank Co-ordination and Research Centre, Mumbai, as an eligible project or scheme - S.O.1216(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for project "Eye Hope" by Eye Bank Co-ordination and Research Centre, Mumbai, as an eligible project or scheme NOTIFICATION NO. S.O.1216(E) DATED 12-12-2001 Whereas by notification of the Government of India in the Ministry of Finance Number S. 0. No. 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 9, for project "Eye Hope" at Mumbai and surrounding areas, by Eye Bank Co-ordination and Research Centre, Manisha Hospital, Sant Savta Mar Byculla, Mumbai-400 027, 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 Probject "Eye Hope" at Mumbai and surrounding areas, which is being carried out by Eye Bank Coordination and Research Centre, Manisha Hospital, Sant Savta Marg, Byculla, Mumbai-400 027, at the estimated cost of rupees seventy two lakhs twenty nine thousand plus a corpus fund of rupees one crore twelve lakhs fifty thousand only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2002-2003. [No. 364-2001/F. No. NC-106/2001]