Research institution approval under section 35(1)(iii) requires separate research accounts and annual audited submissions to authorities. Approval is granted to Central for Research and Development, Bombay, as an Institution under clause (iii) of sub-section (1) of section 35 of the Income-tax Act, subject to conditions: maintain a separate account for research receipts; furnish annual research returns to the Secretary, Department of Scientific and Industrial Research by 31st May; and submit audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the relevant Commissioner/Director of Income-tax (Exemptions) by 30th June. The notification states the effective period and prescribes the procedure and copy requirements for applying for extension of approval.
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.
Research institution approval under section 35(1)(iii) requires separate research accounts and annual audited submissions to authorities.
Approval is granted to Central for Research and Development, Bombay, as an Institution under clause (iii) of sub-section (1) of section 35 of the Income-tax Act, subject to conditions: maintain a separate account for research receipts; furnish annual research returns to the Secretary, Department of Scientific and Industrial Research by 31st May; and submit audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the relevant Commissioner/Director of Income-tax (Exemptions) by 30th June. The notification states the effective period and prescribes the procedure and copy requirements for applying for extension of approval.
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