Exemption under section 35AC extended for an educational infrastructure project, continuing eligibility for tax deduction benefits. The Central Government specifies the construction project by Shree Bharat Saraswati Mandir Sansad at Shardagram-construction of Arts and Commerce College, Rural Science and Pharmacy College, Industrial Training Institute and Hostel-as an eligible project or scheme under the Explanation to section 35AC for a further period of three years commencing with the assessment year 2002-2003, following the National Committee's recommendation under rule 11M(5) of the Income-tax Rules, 1962, and noting the estimated project cost.