Approval under section 35(1)(iii) requires separate research accounts and annual audited submissions with timely extension applications. Approval is granted to the International Management Institute as an institution under clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, conditional on maintaining a separate account for research funds, furnishing annual returns of scientific research activities by 30 April, and submitting audited annual accounts and balance-sheet to the prescribed authority and the Commissioner of Income-tax by 30 June; extension applications must be filed three months before expiry.
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)(iii) requires separate research accounts and annual audited submissions with timely extension applications.
Approval is granted to the International Management Institute as an institution under clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, conditional on maintaining a separate account for research funds, furnishing annual returns of scientific research activities by 30 April, and submitting audited annual accounts and balance-sheet to the prescribed authority and the Commissioner of Income-tax by 30 June; extension applications must be filed three months before expiry.
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