Exemption u/s 35AC - Central Govt. had specified for Running and maintenance of Sri Sathya Sai Institute of Higher Medical Sciences at Prasanthigarm (Andhra Pradesh) and Whitefield, Bangalore (Karnataka), by Shri Sathyasai Medical Trust as an eligible project or scheme - 135/2004 - Income Tax

Exemption u/s 35AC - Central Govt. had specified for Running and maintenance of Sri Sathya Sai Institute of Higher Medical Sciences at Prasanthigarm (Andhra Pradesh) and Whitefield, Bangalore (Karnataka), by Shri Sathyasai Medical Trust as an eligible project or scheme Notification No. 135 of 2004, dt. 19th Apr., 2004 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 901(E) dated the 20th September, 2001, 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 12, for Running and maintenance of Sri Sathya Sai Institute of Higher Medical Sciences at Prasanthigarm (Andhra Pradesh) and Whitefield, Bangalore (Karnataka), by Shri Sathyasai Medical Trust, Brindavan, Kadugodi Post, Bangalore-560067, as an eligible project or scheme for a period of three years beginning with assessment year 2002-2003; And whereas the said project or scheme is likely to extend beyond three 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 of Running and maintenance of Sri Sathya Sai Institute of Higher Medical Sciences, at Prasanthigarm (Andhra Pradesh) and Whitefield, Bangalore (Karnataka), which is being carried out by Shri Sathyasai Medical Trust, Brindavan, Kadugodi Post, Bangalore-560067, at the estimated cost of rupees eleven thousand seven hundred lakhs only, as an eligible project or scheme for a further period of three years commencing from the financial year 2004-2005. File No.NC-395/2003