Notified under section 35AC (b) of the Income Tax Act, 1961 for Running of hospital etc at Gujarat - Amendment in N. No. S.O.96 (E) dated the 11th February, 1999 - 114/2004 - Income Tax

Notified under section 35AC (b) of the Income Tax Act, 1961 for Running of hospital etc at Gujarat - Amendment in N. No. S.O.96 (E) dated the 11 th February, 1999 Notification No. 114 of 2004, dt. 19th Mar., 2004 S.O. 381 (E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue} number S.O.96 (E) dated the 11 th February, 1999, 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 5, for Running of hospital, purchase of equipments and welfare activities at Vadnagar, Mehsana District, Gujarat, by Karuna Setu Trust, Vadnagar - 384355, Gujarat, as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000 which was extended further vide notification number S.O.29 (E) dated the 10th January, 2001 for a period of three years beginning with assessment year 2002-2003 and which was amended and enhanced the amount vide notification number S.O 1120(E) dated the 24 th October. 2002; And whereas the said project or scheme is likely to extend beyond six years; And, whereas, the National Committee for the 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 ₹ 142.03 lakhs to ₹ 184.50 lakhs (including a corpus fund of ₹ 50.00 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 of Maintenance of Running of hospital, purchase of equipments and welfare activities at Vadnagar, Mehsana District, Gujarat by Karuna Setu Trust, Vadnagar -384355, Gujarat as an eligible project of scheme for a further period of three years beginning with financial year 1 [ 2004-2005 ] , and (b) further amends the said notification number S.O. 96(E) dated the 11th February, 1999, to the following effect, namely;- In the said notification, in the Table against serial number 5, in column (4) relating to maximum cost for which allowed, for the letters, figures and word ₹ 142.03 lakhs , the letters, figures and word ₹ 184.50 lakhs (including a corpus fund of ₹ 50.00 lakhs) shall be substituted. F. No. NC-348/2003 ******** Notes 1. Corrected vide Income Tax Notification No.154 /2004 dated 01-06-2004 before it was read as 2003-2004