Research institution approval under section 35 permits tax-exempt recognition subject to reporting, audited accounts, and renewal procedures. Approval is granted to ONGC-Schlumberger Joint Research Centre as an Institution under Section 35(1)(ii) subject to maintaining separate research accounts, furnishing annual research returns to the Department of Scientific and Industrial Research by 31 May, submitting audited annual accounts to specified tax and science authorities by 30 June each year, and applying for extension through the Commissioner/Director of Income-tax with required copies to the science department before approval expiry.
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 institution approval under section 35 permits tax-exempt recognition subject to reporting, audited accounts, and renewal procedures.
Approval is granted to ONGC-Schlumberger Joint Research Centre as an Institution under Section 35(1)(ii) subject to maintaining separate research accounts, furnishing annual research returns to the Department of Scientific and Industrial Research by 31 May, submitting audited annual accounts to specified tax and science authorities by 30 June each year, and applying for extension through the Commissioner/Director of Income-tax with required copies to the science department before approval expiry.
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