Exemption under section 35AC extended to an eligible school construction project, continuing tax benefit for a further three years. Central Government specified exemption under Section 35AC for construction of a school building at Sadatpura by Rutumbhara Education & Vikas Trust as an eligible project; on the National Committee's recommendation that the project was being properly executed, the Government extended the project's specification as eligible for a further three years commencing from the assessment year 1999 2000 at an estimated cost of seventeen lakhs sixty three thousand only.