Research institution approval under section 35(1)(ii) requires annual research returns and audited accounts filed with tax and DSIR authorities. Approval is granted to Gujarat Energy Development Agency as an institution under clause (ii) of sub section (1) of section 35 of the Income tax Act for the period 8 February 1991 to 31 March 1992, subject to conditions: maintain separate accounts for scientific research; file an annual research return to the Secretary, DSIR by 31 May; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the 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)(ii) requires annual research returns and audited accounts filed with tax and DSIR authorities.
Approval is granted to Gujarat Energy Development Agency as an institution under clause (ii) of sub section (1) of section 35 of the Income tax Act for the period 8 February 1991 to 31 March 1992, subject to conditions: maintain separate accounts for scientific research; file an annual research return to the Secretary, DSIR by 31 May; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income tax (Exemptions) by 30 June each year.
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