Tax exemption under section 10(23) granted subject to application, investment, distribution, and business accounting conditions. Notification under section 10(23) grants the Madhya Pradesh Cricket Association, Indore exemption for assessment years 1996-97 to 1998-99 subject to conditions: income must be applied or accumulated exclusively to its objects per Sections 11(2) and 11(3) as modified; investments and deposits are restricted to forms specified in Section 11(5) except permitted voluntary contributions; income cannot be distributed to members except as grants to affiliated bodies; business income is excluded unless incidental to objectives and accounted for in separate books.