Tax exemption recognition for a rural water project granted subject to exclusive application of income and compliance conditions. Notification designates the U.P. Rural Water Supply & Environment Sanitation Project Management Unit as recognised under clause (23C)(iv) of section 10 for assessment years 1997-98 to 1999-2000, conditional on applying or accumulating income exclusively to its objects; restricting investments to permitted modes; excluding business income unless incidental with separate accounts; regularly filing income-tax returns; and transferring surplus and assets on dissolution to a charitable organisation with similar objectives.