Research approval requires maintaining separate research accounts and filing annual research returns and audited accounts by set deadlines. Approval under section 35(1)(ii) is granted to Siddhomal Research Foundation subject to maintaining a separate account for research receipts, furnishing annual research activity returns to the Secretary, Department of Scientific and Industrial Research by the annual deadline, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the local Commissioner/Director of Income-tax (Exemptions) by the prescribed annual date.
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Provisions expressly mentioned in the judgment/order text.
Research approval requires maintaining separate research accounts and filing annual research returns and audited accounts by set deadlines.
Approval under section 35(1)(ii) is granted to Siddhomal Research Foundation subject to maintaining a separate account for research receipts, furnishing annual research activity returns to the Secretary, Department of Scientific and Industrial Research by the annual deadline, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the local Commissioner/Director of Income-tax (Exemptions) by the prescribed annual date.
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