Exemption under section 35(1)(iii): approval granted for a research institution, enabling tax-exempt status effective from April 1975. Approval by the prescribed authority under section 35(1)(iii) of the Income-tax Act was granted to the Indian Association for Research in National Income and Wealth, New Delhi, and notified on 10-9-1975 with effect from 1 April 1975, making the institution eligible within the statutory exemption framework for research-related tax purposes.