Approval under section 35(1)(iii) imposes accounting, annual reporting and renewal conditions for research institutions. Vivekananda Nidhi, Calcutta is approved under clause (iii) of sub-section (1) of section 35 of the Income-tax Act for 1-4-1987 to 31-3-1990, subject to maintaining separate research accounts, filing annual returns of scientific research activities by 31st May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June with copies to the Central Board of Direct Taxes and the Commissioner, and applying for extension three months before approval expiry.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(iii) imposes accounting, annual reporting and renewal conditions for research institutions.
Vivekananda Nidhi, Calcutta is approved under clause (iii) of sub-section (1) of section 35 of the Income-tax Act for 1-4-1987 to 31-3-1990, subject to maintaining separate research accounts, filing annual returns of scientific research activities by 31st May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June with copies to the Central Board of Direct Taxes and the Commissioner, and applying for extension three months before approval expiry.
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