Exemption under section 35AC: Amrita Kuteeram housing project specified as eligible for a further three-year period. The Central Government specifies the development of land and construction of 5,000 houses 'Amrita Kuteeram' by Mata Amritanandamayi Charitable Trust as an eligible project for exemption under the Explanation to section 35AC. The National Committee recommended, under rule 11M(5), a further three-year specification after finding the project properly executed; the Government accordingly extends the project's eligibility for a further three years beginning with assessment year 2001-2002 and notes the estimated project cost.