Exemption under section 10(23C)

Sir/Madam,

An ITI institution neither registered u/s 12A nor approved by the CIT received Government grants. The money received from the Government was kept in a fixed deposit with a nationalised bank for the time sake. It received Rs. 21 lakhs as interest on such deposits in the previous year. Can the Institution claim exemption under section 10(23C) on such an interest income?

Please guide me in this case.

Thanks in advance.