Exemption u/s 35AC - C. G. had notified, 'Construction of additional building/renovation of existing building and purchase of equipments for the Hospital at Ahmedabad, Gujarat' by Sheth Vadilal Sarabhai General Hospital and Sheth Chinai Maternity Hospital, Ahmedabad as an eligible project or scheme - S.O. 2388(E) - Income Tax

Exemption u/s 35AC - C. G. had notified, 'Construction of additional building/renovation of existing building and purchase of equipments for the Hospital at Ahmedabad, Gujarat' by Sheth Vadilal Sarabhai General Hospital and Sheth Chinai Maternity Hospital, Ahmedabad as an eligible project or scheme Notification No. 67/2008 [F. No. NC-274/13/2008] S.O. 2388(E) Dated 3-10-2008 Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 915(E), dated the 27th August, 2002, issued under sub-section (1) read with 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 8, 'Construction of additional building/renovation of existing building and purchase of equipments for the Hospital at Ahmedabad, Gujarat' by Sheth Vadilal Sarabhai General Hospital and Sheth Chinai Maternity Hospital, Ellis Bridge, Ahmedabad-6 as an eligible project or scheme for a period of three years beginning with assessment year 2003-04, which was extended further vide notification number S.O. 1012(E), dated the 5th July, 2006 for a period of two years beginning with financial year 2006-07; And whereas the said project or scheme is likely to extend beyond five years; And whereas the National Committee for 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; 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 notifies the scheme or project 'Construction of additional building/renovation of existing building and purchase of equipments for the Hospital at Ahmedabad, Gujarat' being carried out by Sheth Vadilal Sarabhai General Hospital and Sheth Chinai Maternity Hospital, Ellis Bridge, Ahmedabad-6, without any change in the approved cost of Rs. 1635.45 lakh, as an eligible project or scheme for a further period of three years beginning with financial year 2008-09.