Notification u/s 35AC - Notifies the scheme or project for "B.T. Savani Kidney Hospital" which is being carried out by "Saurashtra Kidney Research Institute, B.T. Savani Kidney Hospital, Near University Gate, University Road, Rajkot - 360005, Gujarat" - 53/2013 - S.O. 3171(E) - Income Tax

NOTIFICATION NO. 53/2013 DATED 17-10-2013 S.O. 3171(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 466(E), dated 29th March, 2007, 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 20, for "B.T. Savani Kidney Hospital" by "Saurashtra Kidney Research Institute, B.T. Savani Kidney Hospital, Near University Gate, University Road, Rajkot - 360005, Gujarat", as an eligible project or scheme at the estimated cost of Rs.2.96 crore, for a period of three years beginning with financial year 2007-08; which was vide Notification number S.O. 1137(E), dated 17th May, 2010 extended further for a period of three years ending financial year 2012-13. And whereas by notification number S.O. 1137(E), dated 17th May, 2010 the estimated cost was enhanced from Rs.2.96 crore to Rs. 3.91 crore; 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 ),ᾰ (a) hereby notifies the scheme or project for "B.T. Savani Kidney Hospital" which is being carried out by "Saurashtra Kidney Research Institute, B.T. Savani Kidney Hospital, Near University Gate, University Road, Rajkot - 360005, Gujarat" as an eligible project or scheme for a further period of three years commencing from the financial year 2013-14, i.e. 2013-14, 2014-15 2015-16; (b) further amends the said notification number S.O.466(E), dated the 29th March, 2007 read with notification number S.O. 1137(E), dated 17th May, 2010 , to the following effect, namely :- In the said notification, in the Table against serial number 20, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and word "Rs. 3.91 crore", the letters, figures and word "Rs. 8.50 crore" shall be substituted. [F.NO.V-27015/2/2013-SO (NAT.COM)]