The Central Government notified the "India Polo Promotion Foundation, Mumbai" for the purpose of clause (23) of section 10 of the Income-tax Act. 1961

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..... [Notification No. S.O. 1868, dated 27th May, 2002 .] In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the India Polo Promotion Foundation, Mumbai, for the purpose of the said clause for the assessment years 1998-99 to 2000-01, subject to the following conditions, namely: (i) the assessee .....

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..... bers except as grants to any association or institution affiliated to it; and; (iv) this notification will not apply in relation to any income, being profits and gains of business, unless the business is incidental to the attainments of the objectives of the assessee and separate books of account are maintained in respect of such business. [Notification No. 118/2002/F. No. 196/9/2002-ITA-I] .....

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