Exemption u/s 35AC - Central Government had specified for construction; equipment and running of a 30 bed hospital and high school by Swami Vivekananda Youth Movement, Mysore (Karnataka), as an eligible project or scheme - 509(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction; equipment and running of a 30 bed hospital and high school by Swami Vivekananda Youth Movement, Mysore (Karnataka), as an eligible project or scheme NOTIFICATION NO. 509(E) DATED 26-5-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 388(E), dated 19th May, 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 17, construction; equipment and running of a 30 bed hospital and high school at Heggadevanakote taluk, Mysore District, Karnataka, by Swami Vivekananda Youth Movement, No. 33, Geeta Pracharini Sabha, Ashok Road, West Cross, Mysore (Karnataka), 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 two 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, equipment and running of a 30 bed hospital and high school at Heggadevanakote taluk, Mysore District, Karnataka, which is being carried out by Swami Vivekananda Youth Movement, No. 33, Geeta Pracharini Sabha, Ashok Road, West Cross, Mysore (Karnataka), at the estimated cost of rupees two crore twenty-nine lakhs forty-eight thousand, as an eligible project or scheme for a further period of two years beginning with the assessment year 2001-2002. [No. 11392/F.No. NC-37/2000]