Research institution approval requires separate research accounts, annual returns, audited accounts, and timely renewal application before expiry. Approval is granted to The Kamayani Udyog Kendra Society as a recognized research institution under the tax framework, subject to conditions: maintain a separate account for research receipts; file prescribed annual returns of research activities by the annual deadline; submit audited annual accounts, income and expenditure statements, and a balance-sheet to the prescribed authority with copies to the central tax board and the relevant tax commissioner by the annual submission date; and apply to the central tax board for extension before approval expiry.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval requires separate research accounts, annual returns, audited accounts, and timely renewal application before expiry.
Approval is granted to The Kamayani Udyog Kendra Society as a recognized research institution under the tax framework, subject to conditions: maintain a separate account for research receipts; file prescribed annual returns of research activities by the annual deadline; submit audited annual accounts, income and expenditure statements, and a balance-sheet to the prescribed authority with copies to the central tax board and the relevant tax commissioner by the annual submission date; and apply to the central tax board for extension before approval expiry.
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