Tax exemption eligibility for Basketball Complex extended under section 35AC, enabling continued deduction for the specified project. Central Government specifies the Basketball Complex at Race Course Road, Indore, carried out by Corporation (Area) Basketball Trust, as an eligible project for exemption under section 35AC at an amended estimated cost of rupees sixteen crores, and extends its eligibility for a further three assessment years commencing from assessment year 2000-2001, following a recommendation by the National Committee under sub-rule (5) of rule 11M of the Income-tax Rules, 1962.