Exemption u/s 35AC - Central Government had specified the project of scheme for Land, construction of building, and running of M.D. Patel Sarvoday Eye/OrthopaedicHospital by Adhyatmik Antarik Mandal as an eligible project or scheme - 037/2005 - Income Tax

Exemption u/s 35AC - Central Government had specified the project of scheme for Land, construction of building, and running of M.D. Patel Sarvoday Eye/ Orthopaedic Hospital by Adhyatmik Antarik Mandal as an eligible project or scheme NOTIFICATION NO. 37/2005, DATED 2-2-2005 S.O. 138(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.591(E) dated the 20 th August, 1997, issued under 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 3, the project of scheme for Land, construction of building, equipments/instruments and running of M.D. Patel Sarvoday Eye/Orthopaedic Hospital at Sansad, District Ahmedabad, Gujarat by Adhyatmik Antarik Mandal, Nala's Bhogal, Near Bus Stand, Sansad-382110, District-Ahmedabad, Gujarat at the estimated cost of rupees seventy lakhs plus a corpus fund of rupees fifty lakhs only, as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999 and which was extended further vide notification number S.O.856(E) dated the 21 st September, 2000 for a period of three years beginning with assessment year 2001-2002; And whereas the said project or scheme is likely to extend beyond six 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 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 for Land, construction of building, equipments/instruments and running of M.D Patel Sarvoday Eye/Orthopaedic Hospital at Sansad, District Ahmedabad, Gujarat, which is being carried out by Adhyatmik Antarik Mandal, Nala's Bhogal, Near Bus Stand, Sansad-382110, District-Ahmedabad, Gujarat, without change in the approved cost as an eligible project or scheme for a further period of three years commencing from the financial year 2003-2004. [F. No. NC-270/408/2004]