Exemption under section 35AC: Venu Eye Institute's project specified as eligible for further three-year period after committee recommendation. The Central Government specified the project of Venu Eye Institute and Research Centre, carried out by Venu Charitable Society, as an eligible project under the exemption scheme for a further three-year period commencing with the assessment year 2002-2003, acting under the statutory power on the National Committee's recommendation that the project was being executed properly and noting the project's estimated cost.