Notification No.98/2005 – Income Tax Dated 23-3-2005
Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.28(E) dated the 10th January, 2001, 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 Purchase of medical and non medical equipments, vehicles, furnishing and running of hospital at Village Mulund (West), Mumbai, by Shree Pragati Foundation, Ganesh Gavde Road, Mulund (West), Mumbai-400080 as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002 which was extended further vide notification number S.O.1246(E) dated the 30th October2003 for a period of one year beginning with assessment year 2004-2005;
And whereas the said project or scheme is likely to extend beyond four years;
And whereas the National Committee for Promotion of Social and Economic Welfare, 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,
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 for Purchase of medical and non medical equipments, vehicles, furnishing and running of hospital at Village Mulund (West), Mumbai, which is being carried out by Shree Pragati Foundation, Ganesh Gavde Road, Mulund (West), Mumbai-400080, without change in the approved cost i.e. Rs. 1070.00 lakhs including a corpus fund of Rs.500.00 lakhs, as an eligible project or scheme for a further period of two years commencing from the financial year 2004-2005.
[F.No. NC-270/01/2005]
