Research institution approval under section 35(1)(ii) requires separate research accounts, annual reporting and timely renewal applications. Approval is granted to the Central India Institute of Medical Sciences, Nagpur, under section 35(1)(ii) as an association for scientific research, subject to maintaining a separate account for research receipts, furnishing annual scientific research returns by 31 May, submitting audited annual accounts and balance-sheet to the prescribed authority (with copies to the tax board and Commissioner) by 30 June, and applying for extension at least three months before approval expiry.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(ii) requires separate research accounts, annual reporting and timely renewal applications.
Approval is granted to the Central India Institute of Medical Sciences, Nagpur, under section 35(1)(ii) as an association for scientific research, subject to maintaining a separate account for research receipts, furnishing annual scientific research returns by 31 May, submitting audited annual accounts and balance-sheet to the prescribed authority (with copies to the tax board and Commissioner) by 30 June, and applying for extension at least three months before approval expiry.
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