Approval under section 35(1)(ii) requires separate research accounts, annual returns and audited accounts compliance. Approval is granted to the Science & Technology Entrepreneurship Park, University of Roorkee, Sahranpur, as an Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, subject to maintaining separate accounts for research receipts, furnishing annual returns of research activities by 31 May each year, and submitting audited annual accounts showing income, expenditure, assets and liabilities to specified tax and scientific authorities by 30 June each year. The approval is effective from 1 April 1990 to 31 March 1991 and the organisation is advised on the procedure and timing to apply for extension.
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.
Approval under section 35(1)(ii) requires separate research accounts, annual returns and audited accounts compliance.
Approval is granted to the Science & Technology Entrepreneurship Park, University of Roorkee, Sahranpur, as an Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, subject to maintaining separate accounts for research receipts, furnishing annual returns of research activities by 31 May each year, and submitting audited annual accounts showing income, expenditure, assets and liabilities to specified tax and scientific authorities by 30 June each year. The approval is effective from 1 April 1990 to 31 March 1991 and the organisation is advised on the procedure and timing to apply for extension.
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