Exemption under section 35AC: Kailash Cancer Hospital project retains eligible tax-exempt status for a further three-year period. The Central Government specifies the construction, furnishing, equipment purchase and water works project for Kailash Cancer Hospital by Muni Seva Ashram as an eligible tax-exempt scheme for a further three-year period beginning with assessment year 2004-2005, following the National Committee's recommendation under the income-tax rules that the project is being executed properly and warrants extended specification beyond the initial three-year period.