Exemption under section 35AC: specified institutions approved with capped deductible costs for eligible projects. Notification S.O. 96(E) dated 11-2-1999 approves specified institutions under Section 35AC, identifies eligible projects or schemes with their estimated costs, and specifies the maximum portion of those costs that may be allowed as a deduction; the approvals are project-specific, cap deductible amounts (including corpus distinctions where stated), and are time-limited to a three-year application for the listed assessment years.