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of <h1>Nashik Educational Institution Gains Tax Approval Under Section 10(23C)(vi), Effective AY 2009-10, with Strict Conditions</h1> The Chief Commissioner of Income Tax, Nashik, has granted approval to an educational institution located near CBS, old Agra Road, Nashik, under Section 10(23C)(vi) of the Income Tax Act, 1961, effective from the assessment year 2009-10. The approval is contingent upon several conditions: the institution must apply its income exclusively to its objectives, avoid certain investments, maintain separate accounts for business-related income, and file regular returns. In case of dissolution, assets must be transferred to a similar organization. The approval can be withdrawn if conditions are violated or if obtained through fraud. Anonymous donations and certain business incomes are excluded from this approval.
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