Approval under section 10(23C): educational trust recognition subject to income application, permitted investments, audit, and dissolution conditions. SRM Institute of Science & Technology, Chennai is approved under the income-tax exemption provision for educational trusts subject to conditions: exclusive application or limited accumulation of income, investment only in permitted modes, statutory audit and return filing, transfer of surplus on dissolution to a non-profit educational organization, and exclusions for business activities and anonymous donations; approval is liable to be withdrawn if these conditions or genuineness requirements are contravened.