Income-tax exemption under clause 10(23) notified for Yachting Association of India, subject to application, investment, business and dissolution conditions. Notification grants income tax exemption to Yachting Association of India for assessment years 1999 2000 to 2001 2002, conditional on applying income wholly to its objects, limiting investments to permitted modes (with limited exception for certain voluntary contributions), excluding business profits unless incidental and separately accounted, regular filing of income tax returns, and transferring surplus and assets on dissolution to a charitable organisation with similar objectives.