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<h1>Petroleum Sports Control Board notified under Section 10(23) of Income-tax Act for specific assessment years with conditions.</h1> The Central Government has notified the Petroleum Sports Control Board, New Delhi, under section 10(23) of the Income-tax Act, 1961, for the assessment years 1990-91 to 1992-93. The notification stipulates conditions: the Board must apply or accumulate its income solely for its established objectives, invest funds only in specified forms, not distribute income to members except as grants to affiliated associations, and ensure any business income is incidental and separately accounted. This notification excludes income from business activities unless they align with the Board's objectives.