Exemption under section 35AC extended for eligible school and rehabilitation project, renewing tax-benefit eligibility for three fiscal years. The Central Government, exercising powers under section 35AC, notifies the Ramohalli school and rehabilitation centre project carried out by Shubham Karothi as an eligible project for tax-deduction purposes, without change in the approved cost of Rs.4.00 crore, and extends that eligibility for a further period of three years beginning with financial year 2009-10, following recommendation by the National Committee for Promotion of Social and Economic Welfare.