Exemption u/s 35AC - Specified project by B.D. Patel General Hospital, Gujarat, notified as eligible project - 303/2006 - Income Tax

Exemption u/s 35AC - Specified project by B.D. Patel General Hospital, Gujarat, notified as eligible project NOTIFICATION No. 303/2006, dated 26-10-2006 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 591(E), dated the 20th August, 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 7, for Instrument/equipments, vehicle and running of B.D. Patel General Hospital at Umreth, Taluka-Anand, District Kheda, Gujarat by B.D. Patel General Hospital, Umreth, Near Bus Stand, Daker Road, Taluk-Anand, Kheda, Gujarat-388220 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. 299(E), dated the 29th March, 2000 for a period of three years beginning with assessment year 2001-02 and which was extended further vide notification number S.O. 532(E), dated the 9th May, 2003 for a period of three years beginning with assessment year 2004-05; 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; 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 specifies the scheme or project for Instrument/equipments, vehicle and running of B.D. Patel General Hospital at Umreth, Taluka-Anand, District Kheda, Gujarat which is being carried out by B.D. Patel General Hospital, Umreth, Near Bus Stand, Daker Road, Taluk-Anand, Kheda, Gujarat-388220, without any change in the approved cost of Rs. 73.50 lakhs, plus a corpus fund of rupees Rs. 20.00 lakhs as an eligible project or scheme for a further period of three years commencing from the financial year 2006-07. [F. No. NC-274/03/2006]