Exemption u/s 35AC - Central Government had specified for equipments and running of eye hospital, ayurvedic clinic, homeopathy clinic and educational activities by Shree Jalaram Janseva Trust, Gujarat, as an eligible project or scheme - 503(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for equipments and running of eye hospital, ayurvedic clinic, homeopathy clinic and educational activities by Shree Jalaram Janseva Trust, Gujarat, as an eligible project or scheme NOTIFICATION NO. 503(E) DATED 26-5-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 591(E), dated 20th August, 1997, 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 1, equipments and running of eye hospital, ayurvedic clinic, homeopathy clinic and educational activities at Dharmaj, District Kaira, Gujarat, by Shree Jalaram Janseva Trust, G. M. Viraktasram, Station Road, Post-Dharamaj-388430, District-Kaira, Gujarat, as an eligible project or scheme for a period of three years beginning with the assessment year 1998-99. And 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 and amending the project cost from Rs. 51 lakhs to Rs. 86 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), hereby specifies the scheme or project of equipments and running of eye hospital, ayurvedic clinic, homeopathy clinic and educational activities at Dharmaj, District Kaira, Gujarat, which is being carried out by Shree Jalaram Janseva Trust, G. M. Viraktasram, Station Road, Post-Dharamaj-388430, District-Kaira, Gujarat, at the estimated cost of rupees eighty-six lakhs only, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002. [No. 11386/F. No. NC-37/2000]