Research institution approval under section 35(1)(ii) requires separate research accounts, audited returns, and renewal applications. Astra Research and Development Centre India, Bangalore is approved as an approved institution under the tax provision for research associations on conditions: maintain separate research accounts; file annual returns of scientific research by 30 April; submit audited accounts, income and expenditure statements, and balance sheet to the prescribed authority and Commissioner by 30 June; apply for approval extension at least three months before expiry; and keep foreign founder funds in a separate account to be used only with prescribed authority approval. Approval effective 26 December 1985 to 31 March 1987.
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(1)(ii) requires separate research accounts, audited returns, and renewal applications.
Astra Research and Development Centre India, Bangalore is approved as an approved institution under the tax provision for research associations on conditions: maintain separate research accounts; file annual returns of scientific research by 30 April; submit audited accounts, income and expenditure statements, and balance sheet to the prescribed authority and Commissioner by 30 June; apply for approval extension at least three months before expiry; and keep foreign founder funds in a separate account to be used only with prescribed authority approval. Approval effective 26 December 1985 to 31 March 1987.
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