Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Purchase of medical equipments and running of Health Care Project at Sangrur (Punjab) by Umeed Khanna Foundation - 320/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Purchase of medical equipments and running of Health Care Project at Sangrur ( Punjab ) by Umeed Khanna Foundation Notification No. 320 of 2002 Dated 24th Oct., 2002 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 497(E) dated the 26th May, 2000 issued under subsection (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 6, for Purchase of medical equipments and running of Health Care Project at Sangrur (Punjab) by Umeed Khanna Foundation, 2, Shanti Farms, Village-Sahoorpur, Chandan Hola, New Delhi-110030, 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 amending the project cost from Rs. 161.30 lakhs to Rs. 231.30 lakhs; 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),- a) hereby specifies the scheme or project of Purchase of medical equipments and running of Health Care Project at Sangrur (Punjab) which is being carried out by Umeed Khanna Foundation, 2, Shanti Farms, Village-Sahoorpur, Chandan Hola, New Delhi-110030, and (b) further amends the said notification number S.O. 497(E) dated the 26th May, 2000, to the following effect, namely: In the said notification, in the Table against serial number 6, in column (4) relating to maximum amount of cost to be allowed, for the letters, figures and word "Rs. 161.30 lakhs", the letters, figures and word "Rs. 231.30 lakhs" shall be substituted. [F. No. NC-90/2002]