Research approval under section 35(1)(ii) mandates separate accounts, annual returns, audited accounts, and advance extension applications. Approval is granted to The Institute of Road Transport, Taramani, Madras, as an Association for research-related tax purposes, subject to maintaining separate accounts for scientific research receipts; filing annual returns of scientific research activities with the Department of Scientific and Industrial Research by 31 May each year; and submitting audited annual accounts showing income, expenditure, assets and liabilities to designated income-tax and research authorities by 30 June each year, with prescribed procedures for applying for extension of the approval.
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 approval under section 35(1)(ii) mandates separate accounts, annual returns, audited accounts, and advance extension applications.
Approval is granted to The Institute of Road Transport, Taramani, Madras, as an Association for research-related tax purposes, subject to maintaining separate accounts for scientific research receipts; filing annual returns of scientific research activities with the Department of Scientific and Industrial Research by 31 May each year; and submitting audited annual accounts showing income, expenditure, assets and liabilities to designated income-tax and research authorities by 30 June each year, with prescribed procedures for applying for extension of the approval.
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