Research institution approval grants conditional tax-exemption requiring separate research accounts and annual audited returns. Approval under section 35(1)(ii) was granted to Sri Aurobindo Institute of Applied Scientific Research as an Association, subject to conditions: maintain a separate research account; furnish annual research-activity returns by 31st May; submit audited accounts, income and expenditure statements and balance-sheet with copies to specified tax authorities by 30th June; and apply for extension before approval expiry. The approval applies to the institute at the stated address for the period 1st April, 1988 to 31st March, 1989.