Approval under section 35(1)(ii) requires separate research accounts and annual audited returns to the prescribed authority. Approval is granted to Lal Bahadur Shastri Engineering Research and Consultancy Centre, Trivandrum as an Association under section 35(1)(ii) for scientific research expenditure, subject to maintaining separate accounts for research receipts, furnishing annual returns of research activities to the prescribed authority by 30th April, and submitting audited annual accounts and balance-sheet to the prescribed authority and the Commissioner of Income-tax by 30th June each year.
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) requires separate research accounts and annual audited returns to the prescribed authority.
Approval is granted to Lal Bahadur Shastri Engineering Research and Consultancy Centre, Trivandrum as an Association under section 35(1)(ii) for scientific research expenditure, subject to maintaining separate accounts for research receipts, furnishing annual returns of research activities to the prescribed authority by 30th April, and submitting audited annual accounts and balance-sheet to the prescribed authority and the Commissioner of Income-tax by 30th June each year.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
