Exemption u/s 35AC - Central Government had specified for Construction of building, purchase of equipments, furnishing-fixtures and running of Vruddhashram (Jeevan Sandhya Sushrusha Dham), Gujarat by Bhavnagar Vruddhashram Trust as an eligible project or scheme - 116/2003- S.O. 525(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Construction of building, purchase of equipments, furnishing-fixtures and running of Vruddhashram (Jeevan Sandhya Sushrusha Dham), Gujarat by Bhavnagar Vruddhashram Trust as an eligible project or scheme Notification No. 116 of 2003, dt 9th May, 2003 S.O. 525(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 850(E) dated the 21st September, 2000, 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 3, for Construction of building, purchase of equipments, furnishing-fixtures and running of Vruddhashram (Jeevan Sandhya Sushrusha Dham), Bhavnagar, Gujarat by Bhavnagar Vruddhashram Trust, Plot No. 1260-61, Ghogha Circle. Vruddhashram (Jeevan Sandhya Sushrusha Dham) Krishnanagar, Bhavnagar-1, Gujarat as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002; 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 Construction of building, purchase of equipments, furnishing-fixtures and running of Vruddhashram (Jeevan Sandhya Sushrusha Dham), Bhavnagar, Gujarat which is being carried out by Bhavnagar Vruddhashram Trust, Plot No. 1260-61, Ghogha Circle, Vruddhashram (Jeevan Sandhya Sushrusha Dham) Krishnanagar, Bhavnagar-1, Gujarat, at the estimated cost of rupees five crores fifty lakhs (including a corpus fund of Rs. one crore twenty-five lakhs) only, as an eligible project or scheme for a further period of three years commencing from the assessment year 2004-2005. [F.No. NC-53-2003]