Approval under section 35(1)(ii) confirms college research eligibility with conditions on accounts, returns and renewal. Approval is granted to Maharashtra Academy of Engineering and Educational Research (Maharashtra Institute of Technology) as a college for research-expenditure recognition, subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the prescribed authority by the annual deadline, submitting audited annual accounts and balance-sheet with copies to the concerned Commissioner of Income-tax by the stated date, and applying for extension of approval in advance of expiry.