Notification u/s 35AC - Notifies the scheme Expansion of the Khaja Bandanawaz Teaching & General Hospital and its ancillary building at Gulbarga, Karnataka State - 66/2012 - Income Tax

Notification No. 66/2012 Dated : 14.05.2012 S.O. 1099 (E)- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S. O. 2370(E), dated 3rd October, 2008 , 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 36, Expansion of the Khaja Bandanawaz Teaching General Hospital and its ancillary building at Gulbarga, Karnataka State by Khaja Education Society, K.B.N. New Hostel Campus, Rauza-I-Buzurg, Gulbarga - 585 104, Karnataka, as an eligible project or scheme for a period of three years beginning with the financial year 2008-09 ; And whereas the said project or scheme is likely to extend beyond three 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) , (a) hereby notifies the scheme or project Expansion of the Khaja Bandanawaz Teaching General Hospital and its ancillary building at Gulbarga, Karnataka State which is being carried out by Khaja Education Society, K.B.N. New Hostel Campus, Rauza-I-Buzurg, Gulbarga-585 104, Karnataka, without any change in the approved cost of ₹ 99.79 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2011-12, i.e., 2011-12, 2012-13 and 2013-14, but with a direction that as the financial year 2011-12 has lapsed, no certificate under section 35AC shall be issued for financial year 2011-12. [F. No. V. 27015/2/2012-SO (NAT. COM.)]