Research institution approval under section 35(1)(iii) requires separate research accounts and annual audited returns to authorities. The Centre for Development Studies and Activities, Pune is approved as an institution under the income-tax provision for scientific research, on condition that it maintain separate accounts for research receipts, file annual scientific research returns by 30 April, submit audited annual accounts and balance sheet to the prescribed authority and the Commissioner by 30 June, and apply to the tax board for extension at least three months before approval expiry; approval effective 1 April 1986 to 31 March 1987.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(iii) requires separate research accounts and annual audited returns to authorities.
The Centre for Development Studies and Activities, Pune is approved as an institution under the income-tax provision for scientific research, on condition that it maintain separate accounts for research receipts, file annual scientific research returns by 30 April, submit audited annual accounts and balance sheet to the prescribed authority and the Commissioner by 30 June, and apply to the tax board for extension at least three months before approval expiry; approval effective 1 April 1986 to 31 March 1987.
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