Exemption under section 35AC extended for rural infrastructure project; project re specified as eligible scheme for additional period. The Central Government specifies that the repair and construction of buildings and purchase of equipment at Thava by Gram Nirman Kelvani Mandal Thava qualifies as an eligible project for exemption under section 35AC, and, following the National Committee's recommendation under rule 11M(5) of the Income tax Rules, the Government extends the specification for a further three year period commencing from the stated assessment year.