U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Kanoria Seva Kendra, Gujarat - 90/2013 - Income Tax

NOTIFICATION NO. 90/2013 DATED 27-12-2013 S.O. 3841(E) - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.366(E), dated the 10th April, 2000 , 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 3, Construction of extension building, purchase of equipments/instruments, mobile van, furnishing and running of Kanoria Hospital and Research Centre at Gandhi Nagar, Gujarat by Kanoria Seva Kendra, 307, Abhijeet Netaji Marg, Ellisbridge, Ahmedabad, Gujarat, as an eligible project or scheme for a period of three years beginning with assessment year 2000-01, which was extended further vide notification number S.O.981(E), dated the 10th September, 2002 for a period of three years beginning with assessment year 2003-04, which was extended further vide notification number S.O.506(E) dated the 4th April, 2006 for a period of three years beginning with financial year 2005-06; which was further extended vide notification number S.O.244(E) dated the 21 st January, 2009 for a period of three years beginning with financial year 2008-09; and which was further extended vide S.O. No. 862 (E), dated 27-4-2011 for three years ending with financial year 2013-14. And whereas by notification number S.O 639(E) dated 22-3-2010, the project cost was enhanced from ₹ 161.81 lakh to ₹ 381 lakh; And whereas the said project or scheme is likely to extend beyond twelve 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 and enhancement in the estimated cost; 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 Construction of extension building, purchase of equipments/instruments, mobile van, furnishing and running of Kanoria Hospital and Reseach Centre at Gandhi Nagar, Gujarat being carried out by Kanoria Seva Kendra, 307, Abhijeet Netaji Marg, Ellisbridge, Ahmedabad, Gujarat for a further period of three years commencing with the financial year 2014-15 i.e. 2014-15, 2015-16 and 2016-17. (b) further amends the said notification number S.O. 366(E), dated the 10th April, 2000 read with notification number S.O 639(E) dated 22-3-2010, to the following effect, namely:- In the said notification, in the Table against serial number 3, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and words Rs.381 lakh , the letters, figures and words Rs.723 lakh shall be substituted. [F.NO.27015/3/2013-SO (NAT.COM)]