Tax exemption under Section 35AC extended for a specified eligible project, preserving tax benefit for further assessment years. Exemption under Section 35AC is extended to the construction, furnishing and running of the Indian Craft Village project by Indian Craft Village Trust, with the Central Government specifying the scheme as an eligible project for a further period of three assessment years commencing from the assessment year 1998-99 following a National Committee recommendation that the project is being executed properly.