Approval under section 35(1)(ii): Indian Register of Shipping recognised as Association with research accounting and reporting conditions. Approval under section 35(1)(ii) recognises Indian Register of Shipping, Bombay as an Association for income-tax treatment of scientific research, subject to conditions: maintain separate research accounts; furnish annual research returns by 30 April; submit audited accounts and balance-sheet copies to the prescribed authority and the concerned Commissioner of Income-tax by 30 June; and apply to the Central Board of Direct Taxes for extension at least three months before approval expiry. The notification is effective from 1 April 1986 to 31 March 1988.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(ii): Indian Register of Shipping recognised as Association with research accounting and reporting conditions.
Approval under section 35(1)(ii) recognises Indian Register of Shipping, Bombay as an Association for income-tax treatment of scientific research, subject to conditions: maintain separate research accounts; furnish annual research returns by 30 April; submit audited accounts and balance-sheet copies to the prescribed authority and the concerned Commissioner of Income-tax by 30 June; and apply to the Central Board of Direct Taxes for extension at least three months before approval expiry. The notification is effective from 1 April 1986 to 31 March 1988.
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