Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
An institution is approved under section 35(1)(ii) of the Income-tax Act, 1961, read with rules 5C and 5E of the Income-tax Rules, 1962, as a "university, college or other institution" for "scientific research" for the purposes of section 35(1)(ii). This approval takes effect from the date of publication in the Official Gazette and applies for Assessment Years 2026-27 to 2030-31, enabling sums paid to the approved institution for scientific research to be considered for deduction under section 35(1)(ii), subject to the Act and applicable rules.
An institution is approved under section 35(1)(ii) of the Income-tax Act, 1961, read with rules 5C and 5E of the Income-tax Rules, 1962, as a "university, college or other institution" for "scientific research" for the purposes of section 35(1)(ii). This approval takes effect from the date of publication in the Official Gazette and applies for Assessment Years 2026-27 to 2030-31, enabling sums paid to the approved institution for scientific research to be considered for deduction under section 35(1)(ii), subject to the Act and applicable rules.
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