Charitable exemption recognition under clause 23C(v) requires compliance, restricted investments, separate business accounts and asset distribution on dissolution. The Central Government notifies the Arch Diocese of Trivandrum for recognition under the income-tax provision for charitable exemption for specified assessment years, subject to conditions: income must be applied or accumulated solely for its objects; investments confined to permitted forms; business profits exempt only if incidental and maintained in separate books; regular filing of returns; and surplus assets on dissolution transferred to a like-minded charitable organisation.