Approval under section 35(1)(iii) grants institutional research recognition subject to separate accounts and annual audited reporting. Approval is granted to Thakur Research Foundation as an Institution for tax recognition under the research expenditure provision, conditional on maintaining separate accounts for scientific research, furnishing annual returns of research activities 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, and the Commissioner/Director of Income-tax (Exemptions) by 30 June. The approval covers 1 April 1990 to 31 March 1991 and applicants must seek extension in advance.
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)(iii) grants institutional research recognition subject to separate accounts and annual audited reporting.
Approval is granted to Thakur Research Foundation as an Institution for tax recognition under the research expenditure provision, conditional on maintaining separate accounts for scientific research, furnishing annual returns of research activities 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, and the Commissioner/Director of Income-tax (Exemptions) by 30 June. The approval covers 1 April 1990 to 31 March 1991 and applicants must seek extension in advance.
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