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<h1>Asian Institute of Transport Development Notified Under Section 10(23C) for Tax Exemption, Must Adhere to Specific Conditions</h1> The Central Government has notified the 'Asian Institute of Transport Development, New Delhi' under Section 10(23C) of the Income-tax Act, 1961, for the assessment years 2005-2006 to 2007-2008. The notification stipulates that the institute must apply its income solely for its established objectives, restricts investment of funds to specified forms, and excludes business income unless incidental to its objectives with separate accounts. The institute must file regular income tax returns, and upon dissolution, any surplus must be transferred to a similar charitable organization.