Exemption under Section 35AC: specification of a road construction scheme extended following regulatory recommendation. The Central Government specified the Tamil Nadu Urban Finance and Infrastructure Development Corporation Limited scheme for road construction at Thiruthuraipoondi and Nagapattinam as an eligible project under the Explanation to section 35AC, and, following a National Committee recommendation under sub rule (5) of rule 11M that the project was being executed properly, extended that specification for a further two assessment years commencing from assessment year 1997 98 at the estimated cost stated in the notification.