Exemption under section 35AC: specified charitable projects approved with capped deductible costs for defined assessment years. Approval is granted for specified charitable institutions and their listed projects or schemes to qualify for exemption under section 35AC, with the notification listing each institution, describing the eligible activity, giving the estimated project cost and specifying the maximum amount of that cost which may be allowed as a deduction; the approvals are limited to the period and assessment years stated and certain cost figures have been subsequently substituted by later notifications.