Research institution approval under section 35(1)(ii) requires separate research accounts, annual returns, audited filings, and timely extension application. Approval is granted to the Serum Institute of India Research Foundation as an approved institution under section 35(1)(ii) of the Income-tax Act, subject to conditions: maintain separate research accounts; furnish annual returns of scientific research activities by 30 April; submit audited annual accounts and balance-sheet to the prescribed authority and Commissioner by 30 June; and apply for extension at least three months before approval expiry. The approval is effective from 1 April 1986 to 31 March 1988.
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, annual returns, audited filings, and timely extension application.
Approval is granted to the Serum Institute of India Research Foundation as an approved institution under section 35(1)(ii) of the Income-tax Act, subject to conditions: maintain separate research accounts; furnish annual returns of scientific research activities by 30 April; submit audited annual accounts and balance-sheet to the prescribed authority and Commissioner by 30 June; and apply for extension at least three months before approval expiry. The approval is effective from 1 April 1986 to 31 March 1988.
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