Research institution approval under section 35(1)(ii) requires separate research accounts and timely annual audited filings. Environmental Research Laboratory, Lucknow is approved as a research institution subject to conditions: maintain a separate account for scientific research receipts; furnish annual scientific research returns to the research secretary by 31st May each year; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the research secretary, and the local Commissioner/Director of Income-tax (Exemptions) by 30th June each year. The approval is effective for the stated period and instructions for applying for extension are provided.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(ii) requires separate research accounts and timely annual audited filings.
Environmental Research Laboratory, Lucknow is approved as a research institution subject to conditions: maintain a separate account for scientific research receipts; furnish annual scientific research returns to the research secretary by 31st May each year; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the research secretary, and the local Commissioner/Director of Income-tax (Exemptions) by 30th June each year. The approval is effective for the stated period and instructions for applying for extension are provided.
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