Approval under section 35(1)(ii): institute approved as Association subject to annual scientific returns, audited accounts and timely renewal application. Approval of Central India Institute of Medical Sciences, Nagpur, under section 35(1)(ii) as an 'Association' is conditional on maintaining a separate account for research funds; filing annual scientific research returns by 30 April; submitting audited annual accounts, income and expenditure statements and balance-sheet copies to the prescribed authority and the Commissioner of Income-tax by 30 June; and applying to the Central Board of Direct Taxes at least three months before expiry for extension, with late applications liable to rejection.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(ii): institute approved as Association subject to annual scientific returns, audited accounts and timely renewal application.
Approval of Central India Institute of Medical Sciences, Nagpur, under section 35(1)(ii) as an "Association" is conditional on maintaining a separate account for research funds; filing annual scientific research returns by 30 April; submitting audited annual accounts, income and expenditure statements and balance-sheet copies to the prescribed authority and the Commissioner of Income-tax by 30 June; and applying to the Central Board of Direct Taxes at least three months before expiry for extension, with late applications liable to rejection.
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