Income-tax exemption under clause 23C(v) for orphanage conditioned on exclusive application of income and compliance. The Central Government notifies clause (23C) (v) of section 10 to grant exemption to The Muslim Orphanage Committee, Tirunelvelli for assessment years 1998-99 to 2000-2001, subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments or deposits must be limited to forms specified in section 11(5) except certain voluntary movable contributions; business income is excluded unless incidental and separately accounted; regular income-tax returns must be filed; and on dissolution surplus and assets must transfer to a similarly purposed charitable organisation.