Tax exemption recognition under section 10(23C)(iv) granted subject to exclusive application of income and compliance conditions. Notification under Section 10(23C)(iv) recognises The Institute of Road Transport, Taramani, Chennai for assessment years 2000-01 to 2002-03 subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments to modes specified in Section 11(5) (except certain voluntary contributions); exclude business income unless incidental with separate books; regularly file income-tax returns; and on dissolution transfer surplus and assets to a like-minded organisation.