Approval under section 35(1)(ii) requires separate research accounts, annual activity returns, and audited annual account submissions. Approval under section 35(1)(ii) is granted to the Medical Research Centre of Bombay Hospital Trust as an Institution for the specified period, subject to maintaining a separate account for research funds, filing an annual return of scientific research activities to the 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 of the Department of Scientific and Industrial Research, and the jurisdictional tax authority by 30 June each year.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(ii) requires separate research accounts, annual activity returns, and audited annual account submissions.
Approval under section 35(1)(ii) is granted to the Medical Research Centre of Bombay Hospital Trust as an Institution for the specified period, subject to maintaining a separate account for research funds, filing an annual return of scientific research activities to the 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 of the Department of Scientific and Industrial Research, and the jurisdictional tax authority by 30 June each year.
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