Approval under section 35 grants institutional recognition subject to separate research accounts, annual audited returns and timely renewal. The National Council of Applied Economic Research, New Delhi, is approved as an Institution for research-related income-tax purposes from 1-4-1987 to 31-3-1990, subject to maintaining a separate account for research funds, filing annual scientific research returns by 31 May, submitting audited annual accounts and balance sheet to the prescribed authority and copies to the Central Board of Direct Taxes and the concerned Commissioner by 30 June, and applying for extension at least three months before approval 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 grants institutional recognition subject to separate research accounts, annual audited returns and timely renewal.
The National Council of Applied Economic Research, New Delhi, is approved as an Institution for research-related income-tax purposes from 1-4-1987 to 31-3-1990, subject to maintaining a separate account for research funds, filing annual scientific research returns by 31 May, submitting audited annual accounts and balance sheet to the prescribed authority and copies to the Central Board of Direct Taxes and the concerned Commissioner by 30 June, and applying for extension at least three months before approval expiry.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
