Exemption u/s 35 AC - Central Government had specified for renovation and updating of existing 747 bedded K. J. Mehta T. B. Hospital including additions and furnishing/replacement of old furniture, and construction of new staff quarters Gujarat, as an eligible project or scheme - S.O.265(E) - Income Tax

Exemption u/s 35 AC - Central Government had specified for renovation and updating of existing 747 bedded K. J. Mehta T. B. Hospital including additions and furnishing/replacement of old furniture, and construction of new staff quarters Gujarat, as an eligible project or scheme NOTIFICATION NO. S.O.265 ( E ) DATED 27-3-1997 Whereas by notification number S. O. 194(E), dated 13th March, 1995, issued under clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified the scheme of Shri K. J. Mehta T. B. Hospital, Amargarh-364 210, District Bhavnagar, Gujarat, for renovation and updating of existing 747 bedded K. J. Mehta T. B. Hospital including additions and furnishing/replacement of old furniture, alteration of staff quarters and construction of new staff quarters and roads at Amargarh and equipment for the hospital and conducting 75 T. B. diogonostic camps at District Bhavnagar, Gujarat, as an eligible project or scheme for a period of three years commencing from the assessment year 1995-96. And whereas the said project or scheme is likely to extend beyond three 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 clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme of Shri K. J. Mehta T. B. Hospital, Amargarh-364 210, District Bhavnagar, Gujarat, for renovation and updating of existing 747 bedded K. J. Mehta T. B. Hospital including additions and furnishing/replacement of old furniture, alteration of staff quarters and construction of new staff quarters and roads at Amargarh and equipment for the hospital and conducting 75 T. B. diogonostic camps at District Bhavnagar, Gujarat, at the estimated cost of rupees three hundred nineteen lakhs and sixty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-99, i.e., 1998-99, 1999-2000 and 2000-2001. [No. 10326/F. No. NC-16/97]