Exemption u/s 35AC - C. G. had notified , 'Construction, equipments and furnishing of a 50 bed Hospice for the care of the terminally ill Cancer patients at Bangalore, by Bangalore Hospice Trust, as an eligible project or scheme - Amendment in N. No. S.O. 180(E), dated the 10th March, 1997 - S.O. 2389(E) - Income Tax

Exemption u/s 35AC - C. G. had notified , 'Construction, equipments and furnishing of a 50 bed Hospice for the care of the terminally ill Cancer patients at Bangalore, by Bangalore Hospice Trust, as an eligible project or scheme - Amendment in N. No. S.O. 180(E), dated the 10th March, 1997 Notification No. 68/2008 [F. No. NC-274/13/2008] S.O. 2389(E) Dated 3-10-2008 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 180(E), dated the 10th March, 1997, issued under clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 17, 'Construction, equipments and furnishing of a 50 bed Hospice for the care of the terminally ill Cancer patients at Bangalore, Karnataka' by Bangalore Hospice Trust, C/o Indian Cancer Society, New Thippasaudra Main Road, HAL, 3rd Stage, Bangalore - 560 075, as an eligible project or scheme for a period of three years beginning with assessment year 1997-98, which was extended further vide notification number S.O. 156(E), dated the 23rd February, 2000 for a period of three years beginning with assessment year 2000-01, which was extended further vide notification number S.O. 1285(E), dated the 9th December, 2002 for a period of three years beginning with assessment year 2003-04 and which was extended further vide notification number S.O. 502(E), dated the 26th April, 2006 for a period of three years beginning with financial year 2005-06; And whereas by notification number S.O. 1285(E), dated the 9th December, 2002 the estimated cost was enhanced from Rs. 271.50 lakh to Rs. 423.00 lakh and vide notification number S.O. 502(E), dated the 26th April, 2006 the estimated cost was further enhanced from Rs. 423.00 lakh to Rs. 609.00 lakh; And whereas the said project or scheme is likely to extend beyond twelve years; And, whereas, the National Committee for the Promotion of Social and Economic Welfare, 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 extending the said project or scheme for a further period of three years and amending the project cost from Rs. 609.00 lakh to Rs. 879.00 lakh; 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 notifies the scheme or project 'Construction, equipments and furnishing of a 50 bed Hospice for the care of the terminally ill Cancer patients at Bangalore, Karnataka', being carried out by Bangalore Hospice Trust, C/o Indian Cancer Society, New Thippasaudra Main Road, HAL, 3rd Stage, Bangalore - 560 075 for a period of three more years beginning with financial year 2008-09. ( b ) further amends the said notification number S.O. 180(E), dated the 10th March, 1997, to the following effect, namely:— In the said notification, in the Table against serial number 4, in column (4), relating to maximum cost for which allowed, for the letters, figures and word 'Rs. 609.00 lakh' the letters, figures and word 'Rs. 879.00 lakh' shall be substituted.