Research approval under section 35(1)(ii) conditions institutional recognition with annual returns, audited accounts, and renewal filings. Approval is granted to the Madras Institute of Magnetobiology as an approved institution for purposes of research expenditure deduction, effective 1 April 1987 to 31 March 1990, subject to maintaining separate research accounts, furnishing annual returns of scientific research activities by 31 May, submitting audited annual accounts and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30 June, and applying to the Central Board of Direct Taxes at least three months before expiry for extension of approval.
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Research approval under section 35(1)(ii) conditions institutional recognition with annual returns, audited accounts, and renewal filings.
Approval is granted to the Madras Institute of Magnetobiology as an approved institution for purposes of research expenditure deduction, effective 1 April 1987 to 31 March 1990, subject to maintaining separate research accounts, furnishing annual returns of scientific research activities by 31 May, submitting audited annual accounts and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30 June, and applying to the Central Board of Direct Taxes at least three months before expiry for extension of approval.
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