Research association income exemption extended to approved social science and statistical research associations, excluding their income from total taxable income. Amendment expands income exclusion to 'research association' and adds approval for associations undertaking research in social science or statistical research, so that income of a duly approved and notified research association carrying out such research is not included in computing total income.
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Provisions expressly mentioned in the judgment/order text.
Research association income exemption extended to approved social science and statistical research associations, excluding their income from total taxable income.
Amendment expands income exclusion to "research association" and adds approval for associations undertaking research in social science or statistical research, so that income of a duly approved and notified research association carrying out such research is not included in computing total income.
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