Exemption under section 35AC extended for a trust's social welfare and environment awareness project, enabling continued tax-deductible support. Exemption under section 35AC is specified for the Light and Life Academy project carried out by Iqbal Mohamed Trust for a further two-year period beginning in the financial year 2003-2004; the specification continues eligibility for construction, purchase of equipment, books, furniture/fixtures, vehicles and operation of the Academy as a Social Welfare and Environment Awareness Project without any change in the approved cost following the National Committee's recommendation.