Exemption u/s 35AC - The CG had specified for Construction, equipment and running of a 30 bed Hospital and High School at Heggadevanakote Taluk, Mysore District, Karnataka by Swami Vevekananda Youth Movement as an eligible project or scheme - 062/2003 - Income Tax

Exemption u/s 35AC - The CG had specified for Construction, equipment and running of a 30 bed Hospital and High School at Heggadevanakote Taluk, Mysore District, Karnataka by Swami Vevekananda Youth Movement as an eligible project or scheme Notification No. 62 of 2003, dt. 31st March, 2003 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 388(E) dated than 19th May, 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, equipment and running of a 30 bed Hospital and High School at Heggadevanakote Taluk, Mysore District, Karnataka by Swami Vevekananda Youth Movement, No. 33, Geeta Pracharini Sabha, Ashok Road, West Cross, Mysore (Karnataka), as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999 which was extended further vide notification number S.O. 609(E) dated 26th May, 2000 for a period of two years beginning with assessment year 2001-2002; And whereas the said project or scheme is likely to extend beyond five years; And whereas the National Committee, 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 Construction, equipment and running of a 30 bed Hospital and High School at Heggadevanakote Taluk, Mysore District, Karnataka which is being carried out by Swami Vevekananda Youth Movement, No. 33, Geeta Pracharini Sabha, Ashok Road, West Cross, Mysore (Karnataka), at the estimated cost of rupees two crore twenty-nine lakhs forty-eight thousand only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2003-2004. [F.No. NC-166/2002]