Exemption u/s 35AC - C. G. had notified, Construction of building, medical equipments, furnishing, ambulance and preliminary expenses of 30 bed hospital by Dr. M.L. Dhawale Memorial Trust, Mumbai, as an eligible project or scheme - Amendment in N. No. S.O. 862(E), dated the 12th Dec. 1997 - S.O. 2382(E) - Income Tax

Exemption u/s 35AC - C. G. had notified, Construction of building, medical equipments, furnishing, ambulance and preliminary expenses of 30 bed hospital by Dr. M.L. Dhawale Memorial Trust, Mumbai, as an eligible project or scheme - Amendment in N. No. S.O. 862(E), dated the 12th Dec. 1997 Notification No. 61/2008 [F.No. NC-274/13/2008] S.O. 2382(E) dated 3-10-2008 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 862(E), dated the 12th December, 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 4, "( a ) Construction of building, medical equipments, furnishing, ambulance and preliminary expenses of 30 bed hospital; ( b ) Modernisation of existing hospital, medical, equipments, furnishing, ambulance, preliminary expenses; and ( c ) Undertaking mobile health clinics and community health workers' programme" by Dr. M.L. Dhawale Memorial Trust, C/o. Dr. K.M. Dhawale, Sekhsaria Building, 40, Parekh Street, Girgaum, Mumbai-400 004, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99, which was extended further vide notification number S.O. 283(E), dated the 28th March, 2001 for a period of three years beginning with assessment year 2001-02, which was extended further vide notification number S.O. 1135(E), dated the 29th September, 2003 for a period of three years beginning with assessment year 2004-05 and which was extended further vide notification number S.O. 1158(E), dated the 16th July, 2007 for a period of three years beginning with financial year 2006-07; 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. 270.00 lakh plus a corpus fund of Rs. 36.00 lakh to Rs. 906.00 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 "( a ) Construction of building, medical equipments, furnishing, ambulance and preliminary expenses of 30 bed hospital; ( b ) Modernisation of existing hospital, medical, equipments, furnishing, ambulance, preliminary expenses; and ( c ) Undertaking mobile health clinics and community health workers' programme", being carried out by Dr. M.L. Dhawale Memorial Trust, C/o. Dr. K.M. Dhawale, Sekhsaria Building, 40, Parekh Street, Girgaum, Mumbai-400 004 for a period of three more years beginning with financial year 2008-09. ( b ) further amends the said notification number S.O. 862(E), dated the 12th December, 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. 270.00 lakh plus a corpus fund of Rs. 36.00 lakh" the letters, figures and word "Rs. 906.00 lakh" shall be substituted.