Exemption u/s 35AC - Central Government had specified for Instrument/equipments, vehicle and running of B.D. Patel General Hospital , Gujarat by B.D. Patel General Hospital as an eligible project or scheme - 123/2003- S.O. 532(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Instrument/equipments, vehicle and running of B.D. Patel General Hospital , Gujarat by B.D. Patel General Hospital as an eligible project or scheme Notification No. 123 of 2003, dt. 9th May, 2003 S.O. 532(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 691(E) dated the 20th August, 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 7, for Instrument/equipments, vehicle and running of B.D. Patel General Hospital at Umreth, Taluka-Anand, District Kheda, Gujarat by B.D. Patel General Hospital, Umreth, Near Bus Stand, Daker Road, Taluk-Anand, Khede, Gujarat-388220, as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999 and which was extended further vide notification number S.O. 299(E) dated 29th March, 2000; for a period of three years beginning with assessment year 2001-2002; And whereas the said project or scheme is likely to extend beyond six 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 Direction 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Instrument/equipments, vehicle and running of B.D. Patel General Hospital at Umreth, Taluka-Anand, District Kheda, Gujarat which is being carried out by B.D. Patel General Hospital, Umreth, Near Bus Stand, Daker Road, Taluk-Anand, Kheda, Gujarat-388220, at the estimated cost of rupees seventy-three lakhs fifty thousand plus a corpus fund of rupees twenty 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]