Tax exemption under section 35AC extends eligibility for the specified sports hostel project by Sri Aurobindo Ashram for a further three years. The Central Government specifies under section 35AC that the construction and furnishing of sports hostels 'Faquir Kutir' and 'Arohan' by Sri Aurobindo Ashram-Delhi Branch at Van Niwas, Nainital, is an eligible project; the National Committee recommended further specification after finding the project properly executed, and the Government extends eligibility for a further three-year period beginning with the assessment year 2002-2003, recording the estimated project cost.