Research institution approval under section 35(1)(iii) mandates separate research accounts, annual returns and audited accounts. Approval is granted to the EFI Social and Labour Research Foundation, Bombay, under section 35(1)(iii), conditional on maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the prescribed authority by 31 May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30 June with copies to tax authorities, and applying for approval extension before expiry; the notification states an effective approval period from 1 April to 31 March.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(iii) mandates separate research accounts, annual returns and audited accounts.
Approval is granted to the EFI Social and Labour Research Foundation, Bombay, under section 35(1)(iii), conditional on maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the prescribed authority by 31 May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30 June with copies to tax authorities, and applying for approval extension before expiry; the notification states an effective approval period from 1 April to 31 March.
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