Research institution approval under section 35(1)(iii) requires separate accounts and specified annual filings by fixed deadlines. Approval is granted to Madras Institute of Development Studies as an Institution under clause (iii) of sub section (1) of section 35 for 1 4 1990 to 31 3 1991, subject to maintaining a separate research account, furnishing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local Commissioner/Director of Income tax (Exemptions) by 30 June each year.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(iii) requires separate accounts and specified annual filings by fixed deadlines.
Approval is granted to Madras Institute of Development Studies as an Institution under clause (iii) of sub section (1) of section 35 for 1 4 1990 to 31 3 1991, subject to maintaining a separate research account, furnishing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local Commissioner/Director of Income tax (Exemptions) by 30 June each year.
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