Research-institution approval under section 35(1)(ii) requires separate research accounts, annual returns, audited accounts, and timely renewal. Approval under section 35(1)(ii) recognises The Institute of Road Transport, Taramani, Madras as an approved institution in the category of an Association for tax recognition for scientific research, subject to maintaining separate research accounts, furnishing annual returns of research activities by 30 April, and submitting audited accounts, income and expenditure statements, and a balance sheet to the prescribed authority and the concerned commissioner by 30 June.
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Provisions expressly mentioned in the judgment/order text.
Research-institution approval under section 35(1)(ii) requires separate research accounts, annual returns, audited accounts, and timely renewal.
Approval under section 35(1)(ii) recognises The Institute of Road Transport, Taramani, Madras as an approved institution in the category of an Association for tax recognition for scientific research, subject to maintaining separate research accounts, furnishing annual returns of research activities by 30 April, and submitting audited accounts, income and expenditure statements, and a balance sheet to the prescribed authority and the concerned commissioner by 30 June.
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