Research institution approval under section 35(1)(ii) requires separate research accounts and annual audited reporting to authorities. Bakul Finechem Research Centre, Bombay is approved as an Association under clause (ii) of sub section (1) of section 35, subject to maintaining separate accounts for research receipts, furnishing annual scientific research returns to the prescribed authority by 30 April in prescribed forms, and submitting audited annual accounts and a balance-sheet to the prescribed authority by 30 June with copies to the Commissioner of Income-tax; approval effective from 1 April 1984 to 31 March 1985.