Exemption under section 35AC: charitable construction and furnishing project declared eligible for a further extension of tax benefit. Central Government specifies continuation of tax exemption for the project of construction, furnishing and provision of a vehicle for a Home for Aged and Orphans at Pedakakani carried out by Vathsalya Ashramam as an eligible project for a further three-year period commencing with the assessment year 2004-2005, following a recommendation by the National Committee for Promotion of Social and Economic Welfare and under the power to designate eligible projects for tax relief.