Research institution approval under section 35(1)(ii) grants conditional tax-recognition subject to accounting and reporting requirements. Approval is granted to Anam Scientific Technological Applied Research Foundation, Kadiyam, under section 35(1)(ii) as an 'Association' for the period 1 April 1987 to 31 March 1989, subject to conditions: maintain separate research accounts; file annual research activity returns by 31 May; submit audited accounts and balance-sheet to the prescribed authority by 30 June with copies to the Central Board of Direct Taxes, DGIT (Exemption) and the concerned Commissioner; and apply to the Central Board of Direct Taxes and DGIT (Exemption) for extension.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(ii) grants conditional tax-recognition subject to accounting and reporting requirements.
Approval is granted to Anam Scientific Technological Applied Research Foundation, Kadiyam, under section 35(1)(ii) as an "Association" for the period 1 April 1987 to 31 March 1989, subject to conditions: maintain separate research accounts; file annual research activity returns by 31 May; submit audited accounts and balance-sheet to the prescribed authority by 30 June with copies to the Central Board of Direct Taxes, DGIT (Exemption) and the concerned Commissioner; and apply to the Central Board of Direct Taxes and DGIT (Exemption) for extension.
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