Exemption u/s 35AC - Central Government had specified for Bhaorao Deoras Health Science Institution Lucknow: Purchase of land, construction of building and furnishing, Uttar Pradesh by Bhaorao Deoras Seva Nyas as an eligible project or scheme - 067/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified for Bhaorao Deoras Health Science Institution Lucknow: Purchase of land, construction of building and furnishing, Uttar Pradesh by Bhaorao Deoras Seva Nyas as an eligible project or scheme Notification No. 67 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. 1140(E) dated the 18th November, 1999 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 12 for ( a ) Bhaorao Deoras Health Science Institution Lucknow: Purchase of land, construction of building and furnishing, purchase of vehicles, equipments, books and running of Health Science Institute with facilities like lecture hall, auditorium, staff quarters, office, computer room, lab, library, hostel; and ( b ) Bhaorao Deoras Seva Nyas, Lucknow: Construction of building, purchase of instruments/equipments for Industrial Training Institute and Administrative Wing Instructors' accommodation and construction of hostel and mess at Lucknow, Uttar Pradesh by Bhaorao Deoras Seva Nyas, Saraswathi Kunj, Nirala Nagar, Lucknow-226020 (U.P.), as an eligible project or scheme for a period of three years beginning with assessment year 2000-2001; And whereas the said project or scheme is likely to extend beyond three 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 ( a ) Bhaorao Deoras Health Science Institution Lucknow:Purchase of land, construction of building and furnishing, purchase of vehicles, equipments, books and running of Health Science Institute with facilities like lecture hall, auditorium, staff quarters, office, computer room, lab, library, hostel, and ( b ) Bhaorao Deoras Seva Nyas, Lucknow:Construction of building, purchase of instruments/equipments for Industrial Training Institute and Administrative Wing Instructors' accommodation and construction of hostel and mess at Lucknow Uttar Pradesh which is being carried out by Bhaorao Deoras Seva Nyas, Saraswathi Kunj, Nirala Nagar, Lucknow-226020 (U.P.), at the estimated cost of rupees three crores seventy-six lakhs seventeen 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]