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of <h1>Educational Institution in Bombay Recognized for Tax Exemption Under Section 10(23C)(iv) for 1990-93 Assessment Years</h1> The Central Government has issued a notification under section 10(23C)(iv) of the Income-tax Act, 1961, recognizing an educational institution in Bombay for the assessment years 1990-91 to 1992-93. The institution must apply its income exclusively to its established objectives and invest its funds in specified modes. The notification excludes income from business profits unless the business supports the institution's objectives and maintains separate accounts.
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