Tax exemption under section 10(23C)(iv) for institution-related receipts, conditional on application, investment and audit compliance. Income received by any person on behalf of the Administrative Staff College of India, Hyderabad shall not be included in that person's total income provided the Institution applies or accumulates income solely to its objects with limited accumulation beyond fifteen percent, confines investments to prescribed modes, treats business income as taxable unless incidental with separate books, files regular returns, transfers surplus on dissolution to a similar organization, and furnishes a prescribed accountant's audit report; the exemption applies only to receipts on behalf of the Institution for assessment years 2005-06 onwards and is subject to rescission if conditions are breached.