Approval under section 10(23G) grants tax-exempt status to the housing development subject to compliance and audit conditions. Approval is granted to the development of Dheeraj Valley and Dheeraj Residency by Satyam Realtor Private Limited for the purpose of tax exemption under section 10(23G), read with rule 2E, for assessment years 2001-2002 to 2003-2004, subject to compliance with those provisions. The approval requires maintenance of books, audit of accounts by an accountant as per sub rule (7) of rule 2E, and submission of the audit report; the Central Government may withdraw approval if the enterprise ceases the infrastructure activity or fails the accounting or reporting conditions.