Tax exemption recognition for a sports federation conditioned on exclusive application of income and restricted investments. Notification designates the All India Chess Federation, Calicut under clause (23) of section 10 for specified assessment years subject to conditions: income must be applied or accumulated exclusively for its objects per section 11(2)-(3) as modified; investments confined to modes in section 11(5) except permitted forms for voluntary contributions; income may not be distributed to members except as grants to affiliated bodies; and business profits are excluded unless incidental and maintained in separate accounts.