The Central Government notified the "Petroleum Sports Control Board, New Delhi" for the purpose of clause (23) of section 10 of the Income-tax Act. 1961

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..... 1961 Notification No. 129 of 2002 Dated 31st 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 "Petroleum Sports Control Board, New Delhi" for the purpose of the said clause for the assessment years 2002-2003 subject to the following conditions, namely: (i) the assessee wi .....

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..... rs 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 accounts are maintained in respect of such business. [F.No. 196/8/2002-ITA-I] - Notification Tax Manageme .....

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