Tax exemption for income received on behalf of a charitable institution, subject to application, investment and audit conditions. Exemption excludes from a recipient's total income any sums received on behalf of the Centre for Development and Human Rights, provided the Institution applies or accumulates income wholly and exclusively for its objects (with limited permissible accumulation), restricts investments to modes permitted under section 11(5), treats incidental business profits with separate books, files income-tax returns, transfers surplus on dissolution to a like-minded organization, and furnishes an accountant's audit report with its return.