Approval under section 35(1)(ii) conditions research recognition on separate accounts, annual returns, audited filings and renewal. Approval under section 35(1)(ii) of the Income-tax Act is granted to the Taj Agricultural Research Centre as an 'Association' subject to maintaining a separate account for research funds, furnishing annual research returns to the prescribed authority by 30 April, submitting audited accounts and balance-sheet with copies to the prescribed authority and Commissioner by 30 June, and applying for renewal to the Central Board of Direct Taxes 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.
Approval under section 35(1)(ii) conditions research recognition on separate accounts, annual returns, audited filings and renewal.
Approval under section 35(1)(ii) of the Income-tax Act is granted to the Taj Agricultural Research Centre as an "Association" subject to maintaining a separate account for research funds, furnishing annual research returns to the prescribed authority by 30 April, submitting audited accounts and balance-sheet with copies to the prescribed authority and Commissioner by 30 June, and applying for renewal to the Central Board of Direct Taxes at least three months before expiry.
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