Exemption under section 35AC: designation of Poona Blind Men's Association eye hospital as eligible project for extended tax benefit. Central Government, exercising powers under Section 35AC of the Income tax Act, specifies the Poona Blind Men's Association 50 bed eye hospital at Mohammedwadi, Haveli, District Pune, Maharashtra as an eligible project for tax exemption purposes for a further period of three assessment years commencing from the assessment year 1999 2000, following a recommendation by the National Committee under sub rule (5) of rule 11M of the Income tax Rules, 1962, and stating the estimated project cost.