Exemption under section 35AC extended to charitable blood and eye bank project, enabling eligible tax relief for specified capital and running costs. Exemption under section 35AC is specified for the Mehsana Jaycees Charitable Trust's project to purchase equipment, instruments and vehicles and to run a blood bank and an eye bank; the National Committee recommended extension after finding proper execution, and the Central Government has specified the project as eligible for a further three year period beginning with the assessment year 2002 2003, with an estimated project cost and a corpus fund.