Research institution approval requires separate research accounts, annual audited returns, and timely renewal applications before expiry. Approval is granted to the National Association of Critical Care Medicine (India), New Delhi, as an institution for income-tax recognition for scientific research, subject to maintaining separate research accounts, furnishing annual returns of research activities by 31st May, and submitting audited annual 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; renewal applications must be made at least three months before expiry.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval requires separate research accounts, annual audited returns, and timely renewal applications before expiry.
Approval is granted to the National Association of Critical Care Medicine (India), New Delhi, as an institution for income-tax recognition for scientific research, subject to maintaining separate research accounts, furnishing annual returns of research activities by 31st May, and submitting audited annual 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; renewal applications must be made at least three months before expiry.
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