Institutional approval under section 35(1)(ii) requires separate research accounts and annual reporting to tax and research authorities. Approval of Central Power Research Institute as an Institution under section 35(1)(ii) of the Income-tax Act, 1961, is effective from 1 April 1991 to 31 March 1992, subject to maintaining separate research accounts, furnishing annual research activity returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to specified tax and research authorities by 30 June; applications for extension must be made through the appropriate Commissioner/Director three months before expiry, with six copies to the Secretary for extension requests.
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Provisions expressly mentioned in the judgment/order text.
Institutional approval under section 35(1)(ii) requires separate research accounts and annual reporting to tax and research authorities.
Approval of Central Power Research Institute as an Institution under section 35(1)(ii) of the Income-tax Act, 1961, is effective from 1 April 1991 to 31 March 1992, subject to maintaining separate research accounts, furnishing annual research activity returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to specified tax and research authorities by 30 June; applications for extension must be made through the appropriate Commissioner/Director three months before expiry, with six copies to the Secretary for extension requests.
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