The Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, has issued two notifications relating to approval of an educational institution for scientific research and the tax treatment of a transfer of capital assets between public sector companies in the nuclear power sector.
Indian Institute of Information Technology Dharwad approved for scientific research
Under Notification No. 90/2026-CBDT dated 17 July 2026, the Central Government has approved the Indian Institute of Information Technology Dharwad, PAN AAAAl9526L, for scientific research under the category of “University, College or other Institution”.
The approval has been granted for the purposes of Section 45(3)(a)(i) of the Income-tax Act, 2025, read with Rules 32 and 34 of the Income-tax Rules, 2026.
The notification will apply to IIIT Dharwad for the tax years 2026-27 to 2030-31, subject to fulfilment of the prescribed conditions.
The institution will be required to comply with Rule 34 of the Income-tax Rules, 2026; prepare and submit the prescribed statement in Form No. 15 for each tax year by 31 May following the year in which the donation is received; and issue a certificate in Form No. 16 to donors specifying the amount of donation in accordance with Rule 31.
Transfer of capital assets from NPCIL to ASHVINI notified
Through Notification No. 91/2026-CBDT dated 17 July 2026, the Central Government has notified the transfer of capital assets from Nuclear Power Corporation of India Limited (NPCIL), PAN AAACN3154F, to Anushakti Vidhyut Nigam Limited (ASHVINI), PAN AAJCA9421F.
NPCIL is the transferor public sector company, while ASHVINI is the transferee public sector company. The transfer is being undertaken under a plan approved by the Central Government on 15 October 2025.
The notification has been issued in exercise of the powers conferred under Section 47(viiat) of the Income-tax Act, 1961, read with Section 536(2) of the Income-tax Act, 2025.
It will apply to the year of transfer, namely Financial Year 2025-26, corresponding to Assessment Year 2026-27.
The notification has been given retrospective effect from the financial year of transfer. The accompanying explanatory memorandum clarifies that no person is being adversely affected by such retrospective application.
Both notifications form part of the Government’s efforts to provide tax certainty, support scientific research and facilitate approved restructuring and transfer arrangements among public sector entities.
The Notifications can be accessed at: Notification No. 90/2026 , Notification No. 91/2026
