Tax exemption eligibility under section 35AC extended for specified Kachchh development project following regulatory recommendation. Central Government specified the water harvesting, integrated water management, afforestation, horticulture, irrigation and employment generation project in Kachchh for the rural poor of Vivekanand Research and Training Institute as an eligible project or scheme under the clause (b) of the Explanation to the provision for exemption under section 35AC; the National Committee recommended continuation on finding proper execution and the specification is extended for a further three assessment years commencing from the assessment year 1996-97, with the project components identified and an estimated project cost recorded.