Exemption under section 35AC extended for hospital construction and running following national committee recommendation for further period. The Central Government, under the Explanation to section 35AC and on the National Committee's recommendation under the Income-tax Rules, specifies the construction and running of a hospital at Mount Abu by Global Hospital and Research Centre as an eligible project for a further three-year period commencing with the stated assessment year; the notification records the applicant's details, the estimated project cost and a separate corpus fund and notes that the project is likely to extend beyond six years and is being executed satisfactorily.