Tax exemption under Section 35AC extended for a specified school and rehabilitation project following regulatory recommendation. Central Government specifies extension of tax-exempt status under Section 35AC for the construction, equipment purchase, furnishing and running of a school and rehabilitation centre at Ramo Halli, Kengeri, Bangalore by Shubham Karothi, following the National Committee's recommendation, as an eligible project for a further three-year period beginning with the assessment year 2001-2002, noting the estimated cost.