Amendment in the notification number S.O. 591(E) dated 20th August, 1997 - 262/2003- S.O. 1250(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 30 th October, 2003 S.O. 1250(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 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 1, for equipments and running of Eye Hospital, Ayurvedic Clinic, Homopathy Clinic and Educational Activities at Dharamraj-388430, District- Kaira, Gujarat, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99 and which was extended further vide notification number S.O. 503(E) dated 26 th May, 2000 as an eligible project or scheme 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 the Promotion of Social and Economic Change, 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 enhancing the approved cost from ₹ 86.00 lakhs to ₹ 89.50 lakhs; 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 specifies the scheme or project of construction and running of Eye Hospital, Ayurvedic Clinic, Homopathy Clinic and Educational Activities at Dharamraj District- Kaira, Gujarat by Shree Jalaram Janseva Trust, G.M. Viraktasram, station Road, Post- Dharamaj- 388430, District- Kaira, Gujarat the estimated cost of rupees one crore eighteen lakhs forty eight thousand only, as an eligible project or scheme for a further period of three year beginning with assessment year 2004-2005 and (b) further amends the said notification number S.O. 591(E) dated 20 th August, 1997, to the following effect, namely:- In the said notification, in the Table against serial number 1, in column (4) related to maximum amount of cost to be allowed as deduction under 35AC, for ₹ 86.00 lakhs , to ₹ 89.50 lakhs shall be substituted. [F. NO. 262-2003/F.NO. NC-224/2003] A.J. MAJUMDAR, Secy. (National Committee)