Research-expenditure approval requires annual returns, audited accounts and timely renewal applications to retain tax recognition. The Urology Services Society, Jaipur is approved under clause (ii) of sub-section (1) of section 35 of the Income-tax Act as an 'Association' for research-related tax recognition, subject to conditions: maintain separate research accounts; furnish annual returns of research activities by the prescribed deadline; submit audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority and the Commissioner by the prescribed deadline; and apply for renewal of approval at least three months before expiry, with late applications liable to rejection. Approval effective from 30-9-1983 to 30-6-1986.
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-expenditure approval requires annual returns, audited accounts and timely renewal applications to retain tax recognition.
The Urology Services Society, Jaipur is approved under clause (ii) of sub-section (1) of section 35 of the Income-tax Act as an "Association" for research-related tax recognition, subject to conditions: maintain separate research accounts; furnish annual returns of research activities by the prescribed deadline; submit audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority and the Commissioner by the prescribed deadline; and apply for renewal of approval at least three months before expiry, with late applications liable to rejection. Approval effective from 30-9-1983 to 30-6-1986.
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