Exemption u/s 35AC - Central Government had specified for purchase of equipments and running of hospital by Shri K.K. Shah Sabakantha Arogya Mandal, Gujarat, as an eligible project or scheme - S.O. 160(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for purchase of equipments and running of hospital by Shri K.K. Shah Sabakantha Arogya Mandal, Gujarat, as an eligible project or scheme NOTIFICATION NO. S.O. 160(E) DATED 23-2-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S.O. 198(E), dated the 12th March, 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 6, purchase of equipments and running of hospital at Vatrak, Sabarkantha, Gujarat, by Shri K.K. Shah Sabakantha Arogya Mandal, P.O. Vatrak, Taluk-Bayad, District-Sabarkantha-383 326, Gujarat, as an eligible project or scheme for a period of three years beginning with the assessment year 1998-99. Whereas the said project or scheme is likely to extend beyond three years; And whereas the National Committee 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 and running of hospital at Vatrak, Sabarkantha Arogya Mandal, P.O. Vatrak, Taluk--Bayad, District-Sabarkantha-383 326, Gujarat, at the estimated cost of rupees ninety lakhs sixty thousand only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 11246/F. No. NC-159/99]