Approval under section 36(1)(viii) recognises a corporation for long term industrial finance tax treatment, subject to compliance. Approval is granted to M/s Infrastructure Development Finance Company Ltd., Chennai, as a corporation engaged in providing long term finance for industrial development for the purposes of section 36(1)(viii) of the Income tax Act for the specified assessment year, subject to the condition that the company shall conform to and comply with the provisions of section 36(1)(viii) of the Act.