Exemption under section 35AC extended for integrated rural development project, preserving its eligibility for tax benefits. The Central Government specified an Integrated Rural Development project at ten villages in Tijara and Nimrana Blocks, Alwar, Rajasthan, executed by PHD Rural Development Foundation, as an eligible project under section 35AC for tax exemption, with an estimated cost of twenty five lakhs; following a National Committee recommendation that the project was being properly executed, the government extended the project's eligibility for a further two years commencing from assessment year 2004-2005.