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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Government Extends Section 35AC Eligibility for Hospital Project, Approving Additional Three Years with 137 Lakh Budget</h1> The Central Government has extended the eligibility of a project under section 35AC of the Income-tax Act, 1961, for the purchase of equipment and instruments and the operation of a hospital in Balasinor, Kheda, Gujarat. This project, managed by a local hospital trust, was initially recognized for three years beginning with the assessment year 2000-2001. Due to its successful execution, the National Committee recommended its continuation. Consequently, the government has approved the project's eligibility for an additional three years starting from the assessment year 2003-2004, with an estimated cost of 137 lakhs rupees.
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