Approval under section 35(1)(ii): Institutional status requires separate research accounts, annual research returns and audited accounts submission. Approval under section 35(1)(ii) recognises the National Institute for Traning in Industrial Engineering, Bombay as an 'Institution' for research related tax purposes, subject to maintaining a separate account for research receipts, furnishing annual research activity returns to the Secretary of the Department of Scientific and Industrial Research by the annual deadline, and submitting audited annual accounts to the Director General of Income tax (Exemptions), the Secretary, and the local Commissioner/Director by the annual submission deadline.
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): Institutional status requires separate research accounts, annual research returns and audited accounts submission.
Approval under section 35(1)(ii) recognises the National Institute for Traning in Industrial Engineering, Bombay as an "Institution" for research related tax purposes, subject to maintaining a separate account for research receipts, furnishing annual research activity returns to the Secretary of the Department of Scientific and Industrial Research by the annual deadline, and submitting audited annual accounts to the Director General of Income tax (Exemptions), the Secretary, and the local Commissioner/Director by the annual submission deadline.
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