Approval under section 35(1)(ii) grants research-association tax status subject to separate accounts, annual returns, audited accounts, and timely renewal. Approval is granted to Nimbkar Agricultural Research Institute as an approved research association for tax purposes, effective 1 April 1985 to 31 March 1987, conditional on maintaining separate research accounts, filing annual research activity returns by 30 April, submitting audited annual accounts and balance-sheet with copies to the Commissioner by 30 June, and seeking extension from the Central Board 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 under section 35(1)(ii) grants research-association tax status subject to separate accounts, annual returns, audited accounts, and timely renewal.
Approval is granted to Nimbkar Agricultural Research Institute as an approved research association for tax purposes, effective 1 April 1985 to 31 March 1987, conditional on maintaining separate research accounts, filing annual research activity returns by 30 April, submitting audited annual accounts and balance-sheet with copies to the Commissioner by 30 June, and seeking extension from the Central Board at least three months before approval expiry.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
