NOTIFICATION NO. 37/2007, DATED 15-2-2007

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), Number S.O. 1045(E), dated the 18th October, 2001, issued under sub-section (1) read with clause (b) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1, for construction of building, residential quarters for staff, purchase of equipments/machines, furnishing of Aravali Medical and Research Centre at Aravali, District Sindhidurg, Maharashtra by Aravali Vikas Mandal, 302, Maitri Cooperative Housing Society, Golangi Mill Road, Parel, Mumbai – 400012 as an eligible project or scheme for period of three years beginning with assessment year 2002-03 and which was extended further vide notification Number S.O. 144(E), dated the 3rd February, 2006 for a period of one year beginning with assessment year 2005-06;

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 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 for construction of building, residential quarters for staff, purchase of equipments/machines, furnishing of Aravali Medical and Research Centre at Aravali, District Sindhidurg, Maharashtra which is being carried out by Aravali Vikas Mandal, 302, Maitri Cooperative Housing Society, Golangi Mill Road, Parel, Mumbai-400012, without any change in the approved cost of Rs. 548.90 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2006-07.

[F. No. NC-274/04/2006]

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