Exemption under section 35AC extended for Sankar Foundation hospital project, prolonging eligibility for further assessment years. The Central Government, exercising powers under the Explanation to section 35AC, specifies that Sankar Foundation's purchase of equipment and operation of hospital projects at Visakhapatnam is an eligible project for a further two assessment years commencing from assessment year 2002-2003, extending the earlier three-year designation beginning with assessment year 1999-2000, following the National Committee's recommendation under rule 11M that the project is being properly executed.