Exemption under section 35AC extended to school construction and furniture project, enabling continued eligibility for further assessment years. The Central Government specifies the construction of and provision of furniture in Sharadabai Pawar Vidhya Niketan School at Sharadanagar, Baramati, Pune, executed by Baramati Agricultural Development Trust, as an eligible project for tax exemption; the National Committee recommended, having found proper execution, that the project be specified for a further three assessment years commencing from the assessment year 1996-97, thereby extending its eligibility period.