Research institution approval requires separate accounts, annual returns, audited accounts and timely renewal application before expiry. Approval is granted to Krishnamurti Foundation India, Vasanta Vihar, as an institution for purposes of income-tax treatment for scientific research, effective 1-1-1986 to 31-3-1988, subject to conditions: maintain a separate account for research receipts; furnish annual research returns by 30 April; submit audited annual accounts, income and expenditure statement and balance-sheet by 30 June to the prescribed authority and the Commissioner; and apply for extension to the central tax board three months before approval 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 requires separate accounts, annual returns, audited accounts and timely renewal application before expiry.
Approval is granted to Krishnamurti Foundation India, Vasanta Vihar, as an institution for purposes of income-tax treatment for scientific research, effective 1-1-1986 to 31-3-1988, subject to conditions: maintain a separate account for research receipts; furnish annual research returns by 30 April; submit audited annual accounts, income and expenditure statement and balance-sheet by 30 June to the prescribed authority and the Commissioner; and apply for extension to the central tax board three months before approval expiry.
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