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of <h1>Income for Institute of Rail Transport exempt from tax under Section 10(23C)(iv) for 2005-08, with conditions.</h1> Income received on behalf of the Institute of Rail Transport, New Delhi, is exempt from inclusion in total income for assessment years 2005-06 to 2007-08 under Section 10(23C)(iv) of the Income-tax Act, 1961. Conditions include using income exclusively for the institution's objectives, limiting income accumulation to five years beyond 15%, investing funds according to specified modes, maintaining separate business accounts if business activities are incidental, and filing regular income tax returns. In case of dissolution, assets must be transferred to a similar organization. This exemption applies only to income received on behalf of the institution, not to other income of the recipients.
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