Exemption under section 35AC extended for an eligible college construction project, with its approved cost subsequently increased. The Central Government, on the National Committee's recommendation under the Income-tax Rules, specified extension of eligibility for the Income-tax exemption for the construction, equipment and furnishing of a Degree College at Ghumarwin by Associated Cement Companies Limited and approved an enhanced estimated cost for the project, thereby continuing its qualification as an eligible project under section 35AC for an additional assessment year.