Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Expansion of HinduMissionHospital by addition of Geriatric Division and Ophthalmic Block by HinduMissionHospital - 371/2002 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block by Hindu Mission Hospital NOTIFICATION NO. 371 Dated 9th December. 2002 Whereas by notification Of the Government of India in the Ministry of Finance number S.0.228(E) dated the 17th March, 1994, issued under sub-section(l) 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 10, for Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block (7400 sq. ft, area for each) to benefit people living in and around Tambaram by Hindu Mission Hospital, 36, G.S.T. Road, Madras 600 045 as an eligible project or scheme for a period of three years beginning with assessment year 1994-1995 which was extended further vide notification number S.0.483(E) dated 5th July, 1996 for a period of three years beginning with assessment year 1997-1998, which was extended further vide Notification No. S.0.55(E) dated 16th January, 1998 for a period of one year beginning with assessment year 2000-2001 and which was extended further vide Notification No.S.0.513(E) dated 26th May, 2000 for a period of three years beginning with assessment year 2001-2002; And whereas, the said project or scheme is likely to extend beyond ten years; And whereas, the National Committee, being satisfied that the 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 further amending the project cost from Rs. 250.00 lakhs to Rs. 500.00 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 Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block (7400 sq, ft. area for each) to benefit people living in and around Tambaram which is being carried out by Hindu Mission Hospital, 36, G-S.T. Road, Madras 600 045; and (b) further amends the said notification number S.0.228(E) dated the 17th March, 1994, to the following effect, namely:- In the said notification, in the Table against serial number 10, in column (4) relating to maximum amount of cost to be allowed as dedication under section 35Ac, for the letters, figures and word "Rs.250.00 lakhs", the letters, figures and word "Rs.500.00 lakhs" shall be substituted. Sd/- (G.C.Srivastava) Secretary (National Committee) F.No. NC-113/2002