Approval under section 35(1)(ii): association granted tax-recognition for research subject to accounting, reporting and renewal conditions. Conwest Jain Medical Research Society is approved as an institution under section 35(1)(ii) as an association engaged in scientific research, subject to conditions: maintain separate accounts for research receipts; file annual returns of scientific research activities in prescribed forms by the annual deadline; submit audited annual accounts, income and expenditure statements, and balance sheet to the prescribed authority and to the Commissioner of Income-tax by the annual deadline; and apply to the Central Board of Direct Taxes for extension of approval in advance of expiry.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(ii): association granted tax-recognition for research subject to accounting, reporting and renewal conditions.
Conwest Jain Medical Research Society is approved as an institution under section 35(1)(ii) as an association engaged in scientific research, subject to conditions: maintain separate accounts for research receipts; file annual returns of scientific research activities in prescribed forms by the annual deadline; submit audited annual accounts, income and expenditure statements, and balance sheet to the prescribed authority and to the Commissioner of Income-tax by the annual deadline; and apply to the Central Board of Direct Taxes for extension of approval in advance of expiry.
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