Amendment of section 10

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....e) clause (22) and (22A) shall be omitted. (f) in clause (23C),- (A) after sub-clause (iiia), the following sub-clauses shall be inserted, namely:- "(iiiab) any university or other educational institution existing solely for educational purposes and not for purposes of profit, and which is wholly or substantially financed by the Government; or (iiiac) any hospital or other institution for the reception and treatment of persons suffering from illness or mental defectiveness or for the reception and treatment of persons during convalescence or of persons requiring medical attention or rehabilitation, existing solely for philanthropic purposes and not for purposes of profit, and which is wholly or substantia....

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....er than those mentioned in sub-clause (iiiac) or sub-clause (iiiae) and which may be approved by the prescribed authority." (C) In the first, second, third, fifth and sixth provisos,- (i) after the word "institution", the following shall be inserted, namely:- "or any university or other educational Institution or any hospital or other medical institution," (ii) after the words, brackets and letter "or sub-clause (v)", the words, brackets and letters "or sub-clause (vi) or sub-clause (via)" shall be inserted; (D) after the fourth proviso, the following proviso shall be inserted, namely:- "Provided also that the exemption under sub-clause (vi) or sub-clause (via) shall not be denied in rel....

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....ely:- "(23G) any income by way of dividends, other than dividends referred to in section 115-O, interest or long-term capital gains of an infrastructure capital fund or an infrastructure capital company from investments made on or after the 1st day of June, 1998 by way of shares or long-term finance in any enterprise wholly engaged in the business of developing, maintaining and operating any infrastructure facility and which has been approved by the Central Government on an application made by it in accordance with the rules made in this behalf and which satisfies the prescribed conditions. Explanation.- For the purposes of this clause,- (a) "infrastructure capital company" means such company as has made investmen....