Exemption u/s 35AC - notified at serial number 10, "Construction of Phase I of BhagwanMahaveerCancerHospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan" by BhagwanMahaveerCancerHospital & Research Centre, Jaipur, Rajasthan, as an eligible project or scheme - 59/2009 - Income Tax

Exemption u/s 35AC - notified at serial number 10, "Construction of Phase I of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan" by Bhagwan Mahaveer Cancer Hospital Research Centre, Jaipur, Rajasthan, as an eligible project or scheme NOTIFICATION New Delhi , the 18th May, 2009 S.O.1251(E). - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.740(E) dated the 24th October, 1994, 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 10, "Construction of Phase I of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan" by Bhagwan Mahaveer Cancer Hospital Research Centre, Journal House, A-95, Janta Colony, Jaipur, Rajasthan - 302004, as an eligible project or scheme for a period of two years beginning with assessment year 1995-1996 which was extended further vide notification number S.O.235(E) dated the 21st March, 1996 for a period of two years beginning with assessment year 1997-1998 which was extended further vide notification number S.O.210(E) dated the 16th March, 1998 for a period of two years beginning with assessment year 1999-2000 which was extended further vide notification number S.O..867(E) dated the 21st September, 2000 for a period of two years beginning with assessment year 2001-2002 which was extended further vide notification number S.O. 1123(E) dated the 24th October, 2002 for a period of two years beginning with assessment year 2003-2004, which was extended further vide notification number S.O.895(E) dated the 5th August, 2003 for a period of three years beginning with assessment year 2003-2004 and which was extended further vide notification number S.O..1420(E) dated the 4th September, 2006 for a period of two years beginning with financial year 2006-2007; And whereas by notification number S.O.867(E) dated the 21st September, 2000 the estimated cost was enhanced from Rs.1380.00 lakhs to Rs, 1726.00 lakhs and which was further enhanced vide notification No.S.O.895(E). 5th August, 2003 from Rs. 1726.00 lakhs to Rs. 2676 lakhs; And whereas the said project or scheme is likely to extend beyond fifteen 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 specifying 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 Phase I of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan" being carried out by Bhagwan Mahaveer Cancer Hospital Research Centre, Journal House, A-95, Janta Colony, Jaipur, Rajasthan - 302004, without any change in the approved cost of Rs.2676.00 lakh, as an eligible project or scheme for a further period of two years beginning with financial year 2008-2009 i.e. 2008-2009 and 2009-2010. However, since the financial year 2008-2009 has already elapsed, the approval shall not be valid for financial year 2008-2009 in respect of funds collected during this financial year and no certificate for exemption of donation u/s 35AC (1) of the IT Act, 1961 shall be issued for financial year 2008-2009. [No. 59/2009/F.No. NC-274/10/2009] NAVEEN CHANDRA, Director (National Committee)