Exemption u/s 35AC - specified at serial number 8, "Construction and running of hospital at MountAbu, District Sirohi, Rajasthan", by GlobalHospital & Research Centre, Mumbai, as an eligible project or scheme - 43/2009 - Income Tax

Exemption u/s 35AC - specified at serial number 8, "Construction and running of hospital at Mount Abu , District Sirohi, Rajasthan", by Global Hospital Research Centre, Mumbai, as an eligible project or scheme NOTIFICATION New Delhi , the 25th March, 2009 S. O. 842(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.698(E) dated the 3rd October, 1997, 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 specified at serial number 8, "Construction and running of hospital at Mount Abu, District Sirohi, Rajasthan", by Global Hospital Research Centre, 102, Om Shanti, 48, Swastik Society, N. S. Road No.3, Vile Parle (W), Mumbai-400003 as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999 which was extended further vide notification number S.O.863(E) dated the 21st September, 2000 for a period of three years beginning with assessment year 2001-2002, which was extended further vide notification number S.O.1126(E) dated the 29th September, 2003 for a period of three years beginning with assessment year 2004-2005 and which was extended further vide notification number S.O.241(E) dated the 15th February, 2007 for a period of three years beginning with financial year 2006-2007; And whereas by notification number S.O.241(E) dated the 15th February, 2007 the estimated cost was enhanced from Rs.61.27 lakhs plus a corpus fund of Rs. 500.00 lakhs to Rs. 1361.27 lakhs including a corpus fund of Rs.500.00 lakhs; And whereas the said project or scheme is likely to extend beyond twelve 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 and running of hospital at Mount Abu, District Sirohi, Rajasthan" being carried out by Global Hospital Research Centre, 102, Om Shanti, 48, Swastik Society, N.S. Road No. 3, Vile Parle (W), Mumbai-400003, without any change in the approved cost of Rs. 1361.27 lakh including a corpus fund of Rs. 500.00 lakhs, as an eligible project or scheme for a further period of three years beginning with financial year 2009-2010 i.e. 2009-2010, 2010-2011 2011-2012. [No. 43/2009/F.No. NC-274/04/2009] NAVEEN CHANDRA, Director (National Committee)