Approval for scientific research institutions requires separate research accounts, annual audited returns, and timely renewal applications. Approval under section 35(1)(ii) is granted to Hyderabad Science Society as an 'Association' subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities to the prescribed authority by 30 April; submit audited annual accounts showing income, expenditure, assets and liabilities to the prescribed authority and the Commissioner of Income-tax by 30 June; and apply for extension to the Central Board of Direct Taxes at least 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.
Approval for scientific research institutions requires separate research accounts, annual audited returns, and timely renewal applications.
Approval under section 35(1)(ii) is granted to Hyderabad Science Society as an "Association" subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities to the prescribed authority by 30 April; submit audited annual accounts showing income, expenditure, assets and liabilities to the prescribed authority and the Commissioner of Income-tax by 30 June; and apply for extension to the Central Board of Direct Taxes at least three months before approval expiry.
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