Research institution approval under section 35(1)(ii) requires maintaining separate research accounts and annual reporting. Approval is granted to Eye Research Centre, Madras as an Institution for purposes of section 35(1)(ii) for 1 April 1990 to 31 March 1991, subject to maintaining a separate account for scientific research, furnishing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income-tax (Exemptions) by 30 June. The organisation must apply for extension through the proper tax authority three months before expiry, with six copies to the Secretary, DSIR.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(ii) requires maintaining separate research accounts and annual reporting.
Approval is granted to Eye Research Centre, Madras as an Institution for purposes of section 35(1)(ii) for 1 April 1990 to 31 March 1991, subject to maintaining a separate account for scientific research, furnishing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income-tax (Exemptions) by 30 June. The organisation must apply for extension through the proper tax authority three months before expiry, with six copies to the Secretary, DSIR.
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