Exemption under section 35AC: charitable hospital project granted a two-year extension of specified status under income tax rules. The Central Government, acting under the Explanation to section 35AC and on the National Committee's recommendation under the Income tax Rules, specifies the Shri Hari Public Charitable Trust's Vrudhashram and Eye Hospital project as an eligible scheme for a further two year period commencing from the stated financial year, without any change in the approved project cost of Rs. 87.52 lakhs.