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of <h1>Central Government Notifies Bombay Cricket Association for Tax Exemption Under Section 10(23) of Income-tax Act, 1961</h1> The Central Government, under clause (23) of section 10 of the Income-tax Act, 1961, notifies the Bombay Cricket Association for assessment years 1990-91 to 1992-93. The association must apply or accumulate its income according to section 11 provisions, exclusively for its established objectives. It cannot invest funds, except voluntary contributions, outside specified forms or modes. Income distribution to members is prohibited, except as grants to affiliated associations or institutions. The notification excludes income from business activities unless incidental to the association's objectives, with separate accounts maintained for such business.
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