(1) For the purpose of section 133(1)(a)(vii), the prescribed authority for granting of approval shall be the Principal Chief Commissioner of Income-tax (Exemptions).

(2) The prescribed authority shall grant approval with the concurrence of –

(a) the Secretary, University Grants Commission for a University or any non-technical institution of national eminence; and

(b) the Secretary, All India Council of Technical Education for any technical institution of national eminence.

(3) For the purposes of sub-rule (2), —

(a) "All India Council of Technical Education" means the All-India Council of Technical Education established under section 3 of the All-India Council for Technical Education Act, 1987 (52 of 1987); and

(b) "University Grants Commission" means the University Grants Commission established under section 4 of the University Grants Commission Act, 1956 (3 of 1956).