Exemption u/s 35AC - Central Government had specified for expansion of Hindu Mission Hospital by addition of Geriatric Division and Opthalmic Block to benefit people living in and around Tambaram, Tamilnadu, by Hindu Mission Hospital, Madras, as an eligible project or scheme - 513(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for expansion of Hindu Mission Hospital by addition of Geriatric Division and Opthalmic Block to benefit people living in and around Tambaram, Tamilnadu, by Hindu Mission Hospital, Madras, as an eligible project or scheme NOTIFICATION NO. 513(E) DATED 26-5-2000 Whereas by notification of the Government of India in the Ministry of Finance Number S. O. 228(E), dated 17th March, 1994, 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 10, expansion of Hindu Mission Hospital by addition of Geriatric Division and Opthalmic Block (7,400 sq. ft. area for each) to benefit people living in and around Tambaram, Tamilnadu, by Hindu Mission Hospital, 36, G.S.T. Road, Madras-600 045, as an eligible project or scheme for a period of three years beginning with the assessment year 1994-95, which was extended vide S. O. No. 483(E), dated 5th July, 1996, for a period of two more years beginning with the assessment year 1997-98, which was further extended vide S. O. 55(E), dated 16th January, 1998, for a further period of one year in relation to the assessment year 2000-2001 And whereas the said project or scheme is likely to extend beyond six 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 expansion of Hindu Mission Hospital by addition of Geriatric Division and Opthalmic Block (7,400 sq. ft. area for each) to benefit people living in and around Tambaram, Tamilnadu, which is being carried out by Hindu Mission Hospital, 36, G.S.T. Road, Madras-600 045, at the estimated cost of rupees two crores fifty lakhs only, as an eligible project or scheme for a further period of three years beginning, with the assessment year 2001-2002. [No. 11396/F. No. NC-37/2000]