Tax exemption notification for a club: conditional recognition requiring application of income for objects, restricted investments and no member distributions. The Central Government notifies the Dolphin Club, Kilpauk, Chennai for certain assessment years subject to conditions: income must be applied or accumulated exclusively for the club's objects under the applicable application and accumulation rules; investments and deposits are restricted to permitted forms with voluntary contributions retained in specified tangible articles where allowed; income must not be distributed to members except as grants to affiliated institutions; business income is excluded unless incidental and recorded in separate books.