Exemption u/s 35AC - specified for 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 - 102/2006 - Income Tax

Exemption u/s 35AC - specified for 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 10 th March, 1997 NOTIFICATION NO. 102/2006, DATED 4-4-2006 S.O.502(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.180(E) dated the 10 th March, 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 17, for 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, 3 rd Stage, Bangalore-560075 as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998 which was extended further vide notification number S.O.156(E) dated the 23 rd February, 1999 for a period of three years beginning with assessment year 2000-2001 and which was extended further vide notification number S.O.1285(E) dated the 9 th December, 2002 for a period of three years beginning with assessment year 2003-2004; And whereas by notification number S.O.1285(E) dated the 9 th December, 2002 the estimated cost was amended from ₹ 271.50 lakhs to ₹ 423.00 lakhs ; And whereas the said project or scheme is likely to extend beyond nine 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 and amending the project cost from ₹ 423.00 lakhs to ₹ 609.00 lakhs; 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 specifies the scheme or project for Construction, equipments and furnishing of a 50 bed Hospice for the care of the terminally ill Cancer patients at Bangalore, Karnataka, which is being carried out by Bangalore Hospice Trust, C/o Indian Cancer Society, New Thippasaudra Main Road, HAL, 3 rd Stage, Bangalore-560075 as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006; and (b) further amends the said notification number S.O.180(E) dated the 10 th March, 1997, to the following effect, namely :- in the said notification, in the Table against serial number 17, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC, for the letters, figures and word ₹ 423.00 lakhs, the letters figures and word ₹ 609.00 lakhs shall be substituted. [F.No. NC-270/55/2006]