Research institution approval conditions require separate research accounts, annual returns, audited filings, and timely renewal applications. Approval is granted to Mahatma Gandhi Memorial College Trust, Udupi, as an Institution under clause (iii) of sub section (1) of section 35 of the Income tax Act, subject to conditions requiring separate accounts for research funds, annual returns of research activities by 31st May, audited accounts and balance sheet submissions by 30th June to prescribed authorities and tax offices, and timely application for extension before approval expiry.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval conditions require separate research accounts, annual returns, audited filings, and timely renewal applications.
Approval is granted to Mahatma Gandhi Memorial College Trust, Udupi, as an Institution under clause (iii) of sub section (1) of section 35 of the Income tax Act, subject to conditions requiring separate accounts for research funds, annual returns of research activities by 31st May, audited accounts and balance sheet submissions by 30th June to prescribed authorities and tax offices, and timely application for extension before approval expiry.
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