Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction, furnishing equipments and running of hospital at Crozaria, Distt. Mehsana, Gujarat by Smt. Samarathben Chunilal and Sheth Dosabhai Madhavvji Sarvajanik Trust - 311/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Construction, furnishing equipments and running of hospital at Crozaria, Distt. Mehsana, Gujarat by Smt. Samarathben Chunilal and Sheth Dosabhai Madhavvji Sarvajanik Trust Notification No. 311 of 2002 Dated 24th Oct., 2002 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 399(E) dated the 6th June, 1996, 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 5, for Construction, furnishing equipments and running of hospital at Crozaria, Distt. Mehsana, Gujarat by Smt. Samarathben Chunilal and Sheth Dosabhai Madhavvji Sarvajanik Trust, Crozaria, Distt. Mehsana, Taluk-Vijapur, Gujarat as an eligible project or scheme for a period of three years beginning with assessment year 1997-98 which was extended further vide notification number S.O.101(E) dated 11th February, 1999 for a period of three years beginning with assessment year 2000-2001; 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 section 35AC of the Income-tax Act, 1961, (43 of 1961), hereby specifies the scheme or project of Construction, furnishing equipments and running of hospital at Crozaria, Distt. Mehsana, Gujarat which is being carried out by Smt. Samarathben Chunilal and Sheth Dosabhai Madhavvji Sarvajanik Trust, Crozaria, Distt. Mehsana, Talukvijapur, Gujarat at the estimated cost of rupees fifty-nine lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 2003-2004. [F.No.NC-90/2002]