Research expenditure approval secures tax recognition for institution subject to separate accounts, annual returns and audited filings. Approval was granted to the Resources Development Institute, Bhopal as an institution eligible for recognition in relation to research expenditure, conditional on maintaining a separate account for research funds, furnishing annual returns of scientific research activities in prescribed forms to the prescribed authority by the annual deadline, and submitting audited annual accounts (income and expenditure statement and balance sheet) to the prescribed authority with copies to the Commissioner of Income-tax within the stipulated annual timeframe.
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Provisions expressly mentioned in the judgment/order text.
Research expenditure approval secures tax recognition for institution subject to separate accounts, annual returns and audited filings.
Approval was granted to the Resources Development Institute, Bhopal as an institution eligible for recognition in relation to research expenditure, conditional on maintaining a separate account for research funds, furnishing annual returns of scientific research activities in prescribed forms to the prescribed authority by the annual deadline, and submitting audited annual accounts (income and expenditure statement and balance sheet) to the prescribed authority with copies to the Commissioner of Income-tax within the stipulated annual timeframe.
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