Research approval under Section 35(1)(ii) requires separate research accounts, annual returns and audited accounts compliance. Approval under Section 35(1)(ii) is granted to Child Trust Medical Research Foundation, Madras, as an 'Institution' subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities to the prescribed authority by 30th April each year in prescribed forms; submit audited annual accounts showing total income and expenditure and a balance-sheet to the prescribed authority and the concerned Commissioner of Income-tax by 30th June each year; and apply to the Central Board of Direct Taxes three months before approval expiry for extension.
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.
Research approval under Section 35(1)(ii) requires separate research accounts, annual returns and audited accounts compliance.
Approval under Section 35(1)(ii) is granted to Child Trust Medical Research Foundation, Madras, as an "Institution" subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities to the prescribed authority by 30th April each year in prescribed forms; submit audited annual accounts showing total income and expenditure and a balance-sheet to the prescribed authority and the concerned Commissioner of Income-tax by 30th June each year; and apply to the Central Board of Direct Taxes three months before approval expiry for extension.
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