Income exemption under Section 10(23C)(v) protects receipts for a church when statutory compliance and permitted investment conditions are met. Any income received by any person on behalf of Mar Thoma Syrian Church of Malabar, Tiruvalla is excluded from the recipient's total taxable income for the specified assessment years under the income exemption provision, subject to conditions: exclusive application or permitted accumulation of income with limits and a maximum accumulation period, investment in permitted modes only, business income only if incidental with separate books, regular return filing, and transfer of surplus on dissolution to a like-minded organization.