U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Ujjain Charitable Trust Hospital & Research Centre, Ujjain (M.P.) - S.O. 410 (E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION NO. 10594 New Delhi, the 15 th May, 1998 S.O. 410 (E) .- Whereas by notification number S.O. 602 (E) dated the 12 th August, 1993 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 has specified at serial number 4, Construction of Ujjain Charitable Trust's Hospital and Research Centre at Bhudwaria in Ujjain, Madhya Pradesh of Ujjain Charitable Trust Hospital and Research Centre, Mahadik Niwas, 50, Kshirsagar Colony, Ujjain- 456006 (M.P.) as an eligible project or scheme for a period of one year i.e. assessment year 1994-95 which was extended for a period of two year i.e. assessment years 1995-96 and 1996-97 vide S.O. 268 (E) dated the 29th March, 1994 which again was extended for a further period of two years i.e. assessment years 1997-98 and 1998-99 vide S.O. 232 (E) dated the 21 st March, 1996 ; And whereas the said project or scheme is likely to extend beyond five years; And whereas the National Committee, 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 of Construction of Ujjain Charitable Trust's Hospital and Research Centre at Bhudwaria in Ujjain, Madhya Pradesh of Ujjain Charitable Trust Hospital and Research Centre, Ninas, 50, Kshirsagar Colony, Ujjain-456006 (M.P.) at the estimated cost of rupees one hundred fifty lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000. [F. No. NC-29/98] V.K SEHGAL, Dy. Secy