Approval under section 35(1)(ii) conditions institute status on separate research accounts and annual audited reporting. Approval of the National Institute of Immunology as an approved institution for research-related tax purposes is conditional on maintaining separate research accounts; filing annual returns of research activities by 31st May; submitting audited accounts, income and expenditure statements and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30th June; and applying to the Central Board of Direct Taxes at least three months before expiry for extension of approval.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(ii) conditions institute status on separate research accounts and annual audited reporting.
Approval of the National Institute of Immunology as an approved institution for research-related tax purposes is conditional on maintaining separate research accounts; filing annual returns of research activities by 31st May; submitting audited accounts, income and expenditure statements and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30th June; and applying to the Central Board of Direct Taxes at least three months before expiry for extension of approval.
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