Approval conversion under section 35(1)(ii): time-bound status imposed with specified accounting, reporting and investment compliance. Perpetual tax approval granted to The Tuberculosis Association of India under section 35(1)(ii) is converted into time-bound approval valid to 31-3-1987, conditional on maintaining separate accounts for research receipts, furnishing annual research returns by 31 May, submitting audited accounts and balance-sheet with copies to the prescribed authority, Commissioner and Central Board by 30 June, amending investment rules to conform with statutory investment provisions, and applying for extension 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 conversion under section 35(1)(ii): time-bound status imposed with specified accounting, reporting and investment compliance.
Perpetual tax approval granted to The Tuberculosis Association of India under section 35(1)(ii) is converted into time-bound approval valid to 31-3-1987, conditional on maintaining separate accounts for research receipts, furnishing annual research returns by 31 May, submitting audited accounts and balance-sheet with copies to the prescribed authority, Commissioner and Central Board by 30 June, amending investment rules to conform with statutory investment provisions, and applying for extension at least three months before expiry.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
