Research approval under tax provision requires separate accounts, annual audited filings, and timely renewal for continued compliance. Approval is granted to the Central India Institute of Medical Sciences as an approved institution for scientific research, conditioned on maintaining separate research accounts, furnishing annual returns of research activities to the prescribed authority by the annual deadline, and submitting audited annual accounts, income and expenditure statements, and balance-sheet copies to designated tax authorities. The approval is time-bound and requires timely application for extension to central tax authorities before expiry, with late applications liable to rejection.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Research approval under tax provision requires separate accounts, annual audited filings, and timely renewal for continued compliance.
Approval is granted to the Central India Institute of Medical Sciences as an approved institution for scientific research, conditioned on maintaining separate research accounts, furnishing annual returns of research activities to the prescribed authority by the annual deadline, and submitting audited annual accounts, income and expenditure statements, and balance-sheet copies to designated tax authorities. The approval is time-bound and requires timely application for extension to central tax authorities before expiry, with late applications liable to rejection.
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