Exemption under section 35AC: eligibility for the specified rural medical centre renewed for an additional assessment-period. The Central Government has renewed the specification of the project for construction, equipment, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre as an eligible project under section 35AC, following a recommendation by the National Committee that the project is being executed properly, thereby extending the project's eligibility for income-tax exemption for a further period of three assessment years commencing from the stated assessment year.