Exemption for 'Construction of Maharaja Agrasen Hospital at Agroha, Haryana' by Maharaja Agrasen Medical Education & Scientific Research Society, New Delhi' u/s 35AC of the Income-tax Act, 1961 - SO 1299(E) - Income Tax

Exemption for 'Construction of Maharaja Agrasen Hospital at Agroha, Haryana' by Maharaja Agrasen Medical Education Scientific Research Society, New Delhi ' u/s 35AC of the Income-tax Act, 1961 Notification No. SO 1299(E) [F. No. NC-274/08/2008] dated 4-6-2008 Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number SO 602(E), dated the August 12, 1993, 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 notified at serial number 3. 'Construction of Maharaja Agrasen Hospital at Agroha, District Hisar, Haryana' by Maharaja Agrasen Medical Education Scientific Research Society, Dayanand Bhawan, 3/5, Asaf Ali Road, Darya Ganj, New Delhi, as an eligible project or scheme for a period of three years with assessment year 1994-95 which was extended further vide notification number SO 94(E), dated the February 2, 1996 for a period of two years beginning with assessment year 1997-98 which was extended further vide notification number SO 200(E), dated the March 12, 1998 for a period of three years beginning with assessment year 1999-2000 which was extended further vide notification number SO 1269(E), dated the December 28, 2001 for a period of three years beginning with assessment year 2002-03, and which was extended further vide notification number SO 129(E), dated the February 2, 2005 for a period of three years beginning with financial year 2004-05; And whereas by notification number SO 200(E), dated the March 12, 1998 the estimated cost was enhanced from Rs. 17.57 crore to Rs. 40 crore; And whereas the said project or scheme is likely to extend beyond fourteen 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 extending 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 notifies the scheme or project 'Construction of Maharaja Agrasen Hospital at Agroha, District Hisar, Haryana' being carried out by Maharaja Agrasen Medical Education Scientific Research Society, Dayanand Bhawan, 3/5, Asaf Ali Road, Darya Ganj, New Delhi, without any change in the approved cost of Rs. 40 crore, as an eligible project or scheme for a further period of three years beginning with financial year 2007-08. However, since the financial year 2007-08 has already elapsed, the approval shall not be valid for financial year 2007-08 in respect of funds collected during this financial year and no certificate for exemption of donation under section 35AC(1) of the Income-tax Act, 1961 shall be issued in respect of the financial year 2007-08.