Research institution approval under section 35(1)(iii): separate accounts, annual returns, audited accounts and advance renewal required. Shankara Vidya Kendra is approved as an Institution under section 35(1)(iii) subject to maintaining a separate account for scientific research, filing annual returns of research activities to the prescribed authority by 31 May, 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 30 June, and applying for extension to the Central Board of Direct Taxes three months before expiry. Approval effective 28-2-85 to 31-3-88.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(iii): separate accounts, annual returns, audited accounts and advance renewal required.
Shankara Vidya Kendra is approved as an Institution under section 35(1)(iii) subject to maintaining a separate account for scientific research, filing annual returns of research activities to the prescribed authority by 31 May, 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 30 June, and applying for extension to the Central Board of Direct Taxes three months before expiry. Approval effective 28-2-85 to 31-3-88.
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