Research expenditure approval: institute recognised subject to separate accounts, annual audited reporting, and timely renewal application. Approval granted to Grasim Medical Research Institute as an institution for research expenditure tax purposes, conditional on maintaining separate research accounts, filing annual returns of scientific research activities by 31st May, and submitting audited accounts and balance-sheet to the prescribed authority by 30th June with copies to central tax authorities; approval requires timely application for extension before expiry.
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Provisions expressly mentioned in the judgment/order text.
Research expenditure approval: institute recognised subject to separate accounts, annual audited reporting, and timely renewal application.
Approval granted to Grasim Medical Research Institute as an institution for research expenditure tax purposes, conditional on maintaining separate research accounts, filing annual returns of scientific research activities by 31st May, and submitting audited accounts and balance-sheet to the prescribed authority by 30th June with copies to central tax authorities; approval requires timely application for extension before expiry.
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