Extension of eligibility under section 35AC: specified rural development project granted further period for tax incentive eligibility. The Central Government, exercising powers under the Explanation to section 35AC, specifies the Development of educational infrastructure at Sangroli by Sanskrit Samvardhan Mandal as an eligible project for a further three years commencing with the financial year 2007-08, following a recommendation under sub rule (5) of rule 11M that the project is being properly executed and likely to extend beyond its initial period; the specification is without any change to the approved project cost.