Institutional approval under section 35 grants research related tax recognition subject to accounting and reporting conditions. Approval is granted to the National Council of Science Museum, Calcutta as an Institution for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act, 1961, effective from 11 2 1984 to 31 3 1986. The approval is subject to conditions: maintain a separate account for sums received for scientific research; furnish annual returns of scientific research activities to the prescribed authority by 30 April each year; and submit audited annual accounts and a balance sheet to the prescribed authority by 30 June each year, with copies to the concerned Commissioner of Income tax.
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.
Institutional approval under section 35 grants research related tax recognition subject to accounting and reporting conditions.
Approval is granted to the National Council of Science Museum, Calcutta as an Institution for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act, 1961, effective from 11 2 1984 to 31 3 1986. The approval is subject to conditions: maintain a separate account for sums received for scientific research; furnish annual returns of scientific research activities to the prescribed authority by 30 April each year; and submit audited annual accounts and a balance sheet to the prescribed authority by 30 June each year, with copies to the concerned Commissioner of Income tax.
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