Approval under section 35(1)(ii) for research association requires separate research accounts and specified annual filings and timely renewal applications. Approval granted to Aeronautical Development Agency, Bangalore as an approved institution for scientific research is conditional on maintaining separate accounts for research receipts, furnishing annual research activity returns by 31 May, submitting audited annual accounts and balance sheet to the prescribed authority by 30 June with copies to central tax authorities and the local Commissioner, and applying for extension at least three months before expiry; the approval was effective from 8 June 1987 to 31 March 1989.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(ii) for research association requires separate research accounts and specified annual filings and timely renewal applications.
Approval granted to Aeronautical Development Agency, Bangalore as an approved institution for scientific research is conditional on maintaining separate accounts for research receipts, furnishing annual research activity returns by 31 May, submitting audited annual accounts and balance sheet to the prescribed authority by 30 June with copies to central tax authorities and the local Commissioner, and applying for extension at least three months before expiry; the approval was effective from 8 June 1987 to 31 March 1989.
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