Approval under section 35(1)(ii) confers research tax status on Eye Research Centre, subject to reporting and accounting conditions. Approval is granted to Eye Research Centre, Madras, under section 35(1)(ii) of the Income-tax Act, 1961, effective from 1-6-1985 to 30-6-1987, categorising it as an Association for tax purposes relating to scientific research. The approval is conditional on maintaining separate research accounts, furnishing annual research returns by 30 April, submitting audited accounts and balance-sheet to the prescribed authority and the Commissioner by 30 June, and applying to the Central Board of Direct Taxes for renewal at least three months before 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) confers research tax status on Eye Research Centre, subject to reporting and accounting conditions.
Approval is granted to Eye Research Centre, Madras, under section 35(1)(ii) of the Income-tax Act, 1961, effective from 1-6-1985 to 30-6-1987, categorising it as an Association for tax purposes relating to scientific research. The approval is conditional on maintaining separate research accounts, furnishing annual research returns by 30 April, submitting audited accounts and balance-sheet to the prescribed authority and the Commissioner by 30 June, and applying to the Central Board of Direct Taxes for renewal at least three months before expiry.
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