Income exemption for receipts held on behalf of Inland Waterways Authority: subject to application, investment, business and dissolution conditions. Notification exempts income received by any person on behalf of the Inland Waterways Authority of India, Noida under Section 10(23C)(iv) for the specified assessment years, subject to conditions: application or limited accumulation of income to institutional objects with a cap on excess accumulation and time limit; permitted modes of investment; exclusion of business income unless incidental and separately recorded; regular filing of returns; and transfer of surplus assets on dissolution to a like-minded organisation. The exemption applies only to receipts on behalf of the Institution and not to other receipts of the recipients.