Tax exemption notification grants conditional recognition to a pharmaceutical organization subject to application, investment, business and dissolution conditions. Notification grants tax-exempt status under clause (23C)(iv) of section 10 to the Organization of Pharmaceutical of India, Mumbai for specified assessment years, on conditions: apply income wholly to its objects; restrict investments to modes permitted by section 11(5) (except certain voluntary contributions held as jewellery/furniture); treat business income as incidental only with separate books; file income-tax returns timely; and on dissolution, transfer surplus assets to a charitable organization with similar objectives.