Approval under Section 35(1)(ii) granted; approved research association must maintain separate accounts and meet annual reporting and renewal conditions. Approval is granted to the Process Engineering Design Development Institute, Calcutta, as an association for purposes of research-related income-tax deduction, subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities by 30 April, submitting audited accounts and balance-sheet copies to the prescribed authority and Commissioner by 30 June, and applying for extension three months before the approval's expiry to avoid rejection.
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) granted; approved research association must maintain separate accounts and meet annual reporting and renewal conditions.
Approval is granted to the Process Engineering Design Development Institute, Calcutta, as an association for purposes of research-related income-tax deduction, subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities by 30 April, submitting audited accounts and balance-sheet copies to the prescribed authority and Commissioner by 30 June, and applying for extension three months before the approval's expiry to avoid rejection.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
