Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Blood component-purchase of equipments and accessories thereof at Chennai, Tamilnadu by Madras Egmore Lions Blood Bank Research Foundation - 412/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Blood component-purchase of equipments and accessories thereof at Chennai, Tamilnadu by Madras Egmore Lions Blood Bank Research Foundation NOTIFICATION NO. 412 Dated 30th December. 2002 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.0.308(E) dated the 11th May, 1999, 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 5, for Blood component-purchase of equipments and accessories thereof at Chennai, Tamilnadu by Madras Egmore Lions Blood Bank Research Foundation, 11, Halls Road, Kilpauk, Chennai-600010 as an eligible project or scheme for a period of three years beginning with assessment year 2000-2001; 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 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 Blood component-purchase of equipments and accessories thereof at Chennai, Tamilnadu, which is being carried out by Madras Egmore Lions Blood Bank Research Foundation, 11. Halls Road, Kilpauk, Chennai-600010 at the estimated cost of rupees twenty lakhs and sixty seven thousand only as an eligible project or scheme for a further period of two years commencing from the assessment year 2003-2004. Sd/- (G.C.Srivastava) Secretary (National Committee) F.No. NC-138/2002