Approval under section 35(1)(ii): research institution status requires separate accounts, annual returns, audited submissions and timely renewal. Rajkot Cancer Society is approved as an Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act for the stated year, subject to maintaining separate research accounts, furnishing annual research returns by 31st May, submitting audited accounts and financial statements by 30th June to the prescribed authority and tax authorities, and applying for approval extension before expiry.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(ii): research institution status requires separate accounts, annual returns, audited submissions and timely renewal.
Rajkot Cancer Society is approved as an Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act for the stated year, subject to maintaining separate research accounts, furnishing annual research returns by 31st May, submitting audited accounts and financial statements by 30th June to the prescribed authority and tax authorities, and applying for approval extension before expiry.
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