Research institution approval under section 35 requires separate research accounts, annual returns, audited accounts, and timely renewal. Approval is granted to Lokmanya Medical Research Centre, Pune, under section 35(1)(ii) of the Income-tax Act as an 'Association' subject to maintaining separate research accounts, furnishing annual returns of research activities by 30 April, submitting audited annual accounts and balance sheet to the prescribed authority by 30 June with copies to the Commissioner of Income-tax, and applying for extension of approval at least 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.
Research institution approval under section 35 requires separate research accounts, annual returns, audited accounts, and timely renewal.
Approval is granted to Lokmanya Medical Research Centre, Pune, under section 35(1)(ii) of the Income-tax Act as an "Association" subject to maintaining separate research accounts, furnishing annual returns of research activities by 30 April, submitting audited annual accounts and balance sheet to the prescribed authority by 30 June with copies to the Commissioner of Income-tax, and applying for extension of approval at least three months before expiry.
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