NOTIFICATION NO. 47/2007, DATED 15-2-2007
Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), Number S.0.523(E), dated the 9th May, 2003, 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 2, for Construction of extension building, purchase of equipments, furniture, repairs/renovation of the buildings and running of the project by Guru Nanak Quin Centenary Memorial Hospital Trust, Plot No. S-341, Gandhi Nagar, Bandra (East), Mumbai-400 051, as an eligible project or scheme for a period of three years beginning with -assessment year 2004-05;
AND WHEREAS the said project or scheme is likely to extend beyond three 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 35 AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project for Construction of extension building, purchase of equipments, furniture, repairs/renovation of the buildings and running of the project which is being carried out by Guru Nanak Quin Centenary Memorial Hospital Trust, Plot No. S-341, Gandhi Nagar, Bandra (East), Mumbai-400 051, without any change in the approved cost of Rs. 547.92 lakhs including a corpus fund of Rs. 418.00 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2006-07.
