Exemption u/s 35AC - Central Government had specified for the construction of Phase-I of Bhagwan Mahaveer Cancer Hospital and Research Centre by Bhagwan Mahaveer Cancer Hospital and Research Centre, Rajasthan, as an eligible project or scheme - Amendment in N. No S.O. 210(E) dated the 16th March, 98 - 11507 - Income Tax

Exemption u/s 35AC - Central Government had specified for the construction of Phase-I of Bhagwan Mahaveer Cancer Hospital and Research Centre by Bhagwan Mahaveer Cancer Hospital and Research Centre, Rajasthan, as an eligible project or scheme - Amendment in N. No S.O. 210(E) dated the 16th March, 1998 NOTIFICATION NO. 11507 DATED 21-9-2000 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 740(E), dated the 12th October, 1994 [published at (1994) 121 CTR (St) 211, 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 the construction of Phase-I of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan, by Bhagwan Mahaveer Cancer Hospital and Research Centre, Journal House, A95, Janta Colony, Jaipur, Rajasthan-302004, as an eligible project or scheme for a period of two years beginning with assessment year 1995-96 which was extended further vide notification number S.O. 235(E), dated the 21st March, 1996 [published at (1996) 131 CTR (St) 59] for a period of two years beginning with assessment year 1997-98 and S.O. 210(E) dated the 16th March, 1998, [published at (1998) 145 CTR (St) 731 for a period of two years beginning with assessment year 1999-2000 ; 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 subrule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of two years; and amending the project cost from Rs. 1380.00 lakhs to Rs. 1726.00 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) : ( a ) hereby specifies the scheme or project of construction of Phase-I of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan, which is being carried out by Bhagwan Mahaveer Cancer Hospital and Research Centre, Journal House, A-95, Janta Colony, Jaipur, Rajasthan-302004, as an eligible project or scheme for a further period of two years beginning with assessment year 2001-2002 and ; ( b ) further amends the said notification number S.O. 740(E), dated the 12th October, 1994, to the following effect, namely: In the said notification, in the Table against serial number 10, in column (4) relating to "Maximum amount of cost to be allowed as deduction under section 35AC", for the letters, figures and word "Rs. 1,380.00 lakhs", the letters, figures and word "Rs. 1,726.00 lakhs" shall be substituted. [F. No. NC-73/2000]