Exemption under section 35AC: rural development project specified eligible for an additional assessment year with increased estimated cost. Central Government specified the Rural Development Project 'Palli Unnayan Prakalpa, West Bengal' as an eligible project under the Explanation to section 35AC, comprising primary school construction, drinking water tube wells, and a kachha link road; following a National Committee recommendation the Government extended specification for one further assessment year and revised the project's estimated cost upward.