Tax exemption under section 10(23) granted to Karnataka State Bridge Association subject to investment, business and dissolution conditions. Notification under section 10(23) notifies The Karnataka State Bridge Association, Bangalore as exempt for assessment years 1997-98 to 1999-2000, conditional on applying or accumulating income wholly and exclusively for its objects, restricting investments to forms specified in section 11(5) (with limited exceptions), limiting exemption for business income to incidental activities with separate accounts, regular filing of income-tax returns, and transfer of surplus assets on dissolution to a charitable organisation with similar objectives.