Exemption u/s 35AC - Central Govt. had specified the project of scheme for Construction of extension for hospital building by Nandlal Mulji Bhuta Medical Foundation as an eligible project or scheme - 041/2005 - Income Tax

Exemption u/s 35AC - Central Govt. had specified the project of scheme for Construction of extension for hospital building by Nandlal Mulji Bhuta Medical Foundation as an eligible project or scheme NOTIFICATION NO. 41/2005, DATED 2-2-2005 S.O.142(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 832(E) dated the 18 th September, 1998, issued under 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 18, the project of scheme for Construction of extension for hospital building, purchase of equipments/ambulance for Shri Nandlal Mulji Bhuta Medical Foundation at Sihor, District Bhavnagar, Gujarat, by Nandlal Mulji Bhuta Medical Foundation, Station Road, Sihor, Gujarat State - 364240, at the estimated cost of rupees two crores sixty four lakhs plus a corpus fund of rupees three crores only, as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000 and which was extended further vide notification number S.O.905(E) dated the 20th September, 2001 for a period of three years beginning with assessment year 2002-2003; And whereas the said project or scheme is likely to extend beyond six 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 Construction of extension for hospital building, purchase of equipments/ambulance for Shri Nandlal Mulji Bhuta Medical Foundation at Sihor, District Bhavnagar, Gujarat, which is being carried out by Nandlal Mulji Bhuta Medical Foundation, Station Road, Sihor, Gujarat State - 364240, without change in the approved cost as an eligible project or scheme for a further period of three years commencing from the financial year 2004-2005 [F. No. NC-270/408/2004]