Approval under section 35(1)(ii) permits tax recognition for scientific research subject to accounting and reporting conditions. The National Centre for the Performing Arts, Bombay, is approved as an approved institution for purposes of the Income-tax Act classification for scientific research, subject to conditions: maintain a separate account for research receipts; furnish annual research activity returns to the prescribed authority by 30 April; and submit audited annual accounts and balance-sheet to the prescribed authority and the Commissioner of Income-tax by 30 June. The approval is effective from April 1, 1984, to December 31, 1984.
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) permits tax recognition for scientific research subject to accounting and reporting conditions.
The National Centre for the Performing Arts, Bombay, is approved as an approved institution for purposes of the Income-tax Act classification for scientific research, subject to conditions: maintain a separate account for research receipts; furnish annual research activity returns to the prescribed authority by 30 April; and submit audited annual accounts and balance-sheet to the prescribed authority and the Commissioner of Income-tax by 30 June. The approval is effective from April 1, 1984, to December 31, 1984.
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