Approval under section 35(1)(ii) requires separate research accounts and timely annual audited returns to maintain tax recognition. Approval of Muscular Dystrophy Society, Bombay as an Institution for research-related income-tax purposes is conditional on maintaining a separate account for research receipts, filing annual returns of scientific research activities by 30th April in prescribed forms, and submitting audited annual accounts, income/expenditure statements and balance-sheet copies to the prescribed authority and the concerned Commissioner by 30th June; the approval is effective for the specified period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(ii) requires separate research accounts and timely annual audited returns to maintain tax recognition.
Approval of Muscular Dystrophy Society, Bombay as an Institution for research-related income-tax purposes is conditional on maintaining a separate account for research receipts, filing annual returns of scientific research activities by 30th April in prescribed forms, and submitting audited annual accounts, income/expenditure statements and balance-sheet copies to the prescribed authority and the concerned Commissioner by 30th June; the approval is effective for the specified period.
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