And whereas by notification number S.O.324(E) dated the 11th May, 1999 the estimated cost was enhanced from Rs.63.15 lakhs to Rs.71.5 lakhs;
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 three years and enhancing the project cost from Rs.71.50 lakhs to Rs. 151.35 lakhs;
Now, therefore, the Central Government, in exercise of the powers conferred by subsection (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 for Equipment and running of Polio Hospital at Ahmedbad, Gujarat, which is being carried out by Polio Foundation Shah Chimanlal Chhotalal Lokhandwala Charitable Trust Hospital for the Handicapped, Raipur, Chekela, Ahmedabad-1, as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006; and
(b) further amends the said notification number S.O.399(E) dated the 6th June, 1996, to the following effect, namely:-
In the said notification, in the Table against serial number 8, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC, for the letters, figures and word “Rs.71.5 lakhs”, the letters, figures and words “Rs.151.35 lakhs” shall be substituted.