Notification:
867(E)
Section(s) Referred:
s. 35AC(1)(b) ,r. 11M(5)
Statute:
INCOME TAX
Date of Issue:
21/9/2000
Whereas by notification of the Government of India in the Ministry of Finance
Number
S. O. 740(E), dated 12th October, 1994, issued under 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 the construction of Phase-I of Bhagwan Mahaveer Cancer
Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan, by Bhagwan
Mahaveer Cancer Hospital and Research Centre, Journal House, A-95, Janta Colony,
Jaipur, Rajasthan-302 004, as an eligible project or scheme for a period of two years
beginning with assessment year 1995-96 which was extended further vide Notification
No. S. O. 235(E), dated 21st March, 1996, for a period of two years beginning with the
assessment year 1997-98 ; and S. O. 210(E), dated 16th March, 1998, for a period of two
years beginning with the assessment year 1999-2000 ;
And whereas the said project or scheme is likely to extend beyond six 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 two years and amending the project cost from Rs. 1,380 lakhs to Rs. 1,726
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 of Phase-I of
Bhagwan
Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur,
Rajasthan, which is being carried out by Bhagwan Mahaveer Cancer Hospital and
Research Centre, Journal House, A-95, Janta Colony, Jaipur, Rajasthan-302 004, as an
eligible project or scheme for a further period of two years beginning with the assessment
year 2001-2002 and ;
(b) further amends the said Notification No. S. O. 740(E), dated 12th October,
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 deduction under section 35AC', for the
letters, figures and word 'Rs. 1,380 lakhs', the letters, figures and word 'Rs. 1,726
lakhs'
shall be substituted.
[No. 11507/F. No. NC-73/2000]