Exemption for institutional receipts: income received on behalf of pharmaceutical organisation exempted subject to operational and compliance conditions. Exemption provided for income received by any person on behalf of the Organisation of Pharmaceutical Producers of India, Mumbai, so such receipts are not included in the recipient's total income for the relevant assessment years, conditioned on application of income wholly and exclusively to institutional objects or limited accumulation, investment only in permitted modes, business income being incidental with separate books, regular filing of returns, and transfer of surplus and assets to a similar organisation on dissolution.