Exemption under section 35AC extended to a charitable hospital project, permitting continued eligibility after committee recommendation. Exemption under section 35AC is extended to the project of purchase of equipment for and operation of Manilal Rikhavchand Kothari Lions Orthopaedic and General Hospital at Navsari, Gujarat, executed by Navsari Lions Sarvajanik Charitable Trust, specified as an eligible project for a further three-year period beginning with assessment year 2001-2002 following a National Committee recommendation that the project was being executed properly.