Research institution approval under tax law granted with compliance conditions and annual reporting obligations and renewal requirement. Kamyani Udyog Kendra Society, Pune is approved as an Institution under clause (ii) of sub section (1) of section 35, subject to conditions: maintain separate accounts for research receipts; furnish annual returns of scientific research activities by 31st May; submit audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority and specified tax offices by 30th June; and apply to the Central Board of Direct Taxes and DGIT (Exemption) for extension before approval expiry. Approval covers 1 April 1988 to 31 March 1989.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under tax law granted with compliance conditions and annual reporting obligations and renewal requirement.
Kamyani Udyog Kendra Society, Pune is approved as an Institution under clause (ii) of sub section (1) of section 35, subject to conditions: maintain separate accounts for research receipts; furnish annual returns of scientific research activities by 31st May; submit audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority and specified tax offices by 30th June; and apply to the Central Board of Direct Taxes and DGIT (Exemption) for extension before approval expiry. Approval covers 1 April 1988 to 31 March 1989.
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