Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Rural health camps and construction of 14 bedded Public Hospital at Bhojay, Kutch, Gujarat by Shri Bhojay Sarvodya Trust - 212/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Rural health camps and construction of 14 bedded Public Hospital at Bhojay, Kutch, Gujarat by Shri Bhojay Sarvodya Trust Notification No. 212 of 2002, dt, 14th Aug., 2002. Whereas by notification of the Government of India in the Ministry of Finance number S.O. 422(E) dated the 19th May, 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 1, for Rural health camps and construction of 14 bedded Public Hospital at Bhojay, Kutch, Gujarat by Shri Bhojay Sarvodya Trust, C/o M/s C.D. Prasad Co. Fairy Manor, 13, Gunbow Street, Fort, Mumbai, as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000; And whereas, the said project or scheme is likely to extend beyond three years; And whereas, the National Committee, being satisfied that the 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 and amending the project cost from Rs. 60.00 lakhs including a corpus fund of Rs. 100.00 lakhs to Rs. 360.00 lakhs including a corpus fund of Rs. 200.00 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 Rural health camps and construction of 14 bedded Public Hospital at Bhojay, Kutch, Gujarat which is being carried out by Shri Bhojay Sarvodya Trust, C/o M/s. C.D. Prasad and Co. Fairy Manor, 13, Gunbow Street, Fort, Mumbai, as an eligible project or scheme for a further period of three years beginning with assessment year 2003-2004; and (b) further amends the said notification number S.O. 422(E) dated the 19th May, 1998, to the following effect, namely: In the said notification, in the Table against serial number 1, in column (4) relating to maximum cost for which allowed, for the letters, figures and word "Rs, 60.00 lakhs including a corpus fund of Rs. 100.00 lakhs, the letters, figures and word "Rs. 360.00 lakhs including a corpus fund of Rs. 200.00 lakhs" shall be substituted. [F.No. NC-62/2002]