Research exemption approval granted; organisation must keep separate research accounts and file annual returns and audited accounts. Approval was granted to Sri Hurkisondas Nurrotumdas Medical Research Society for research-related tax purposes as an 'Association', subject to maintaining a separate account for research receipts, filing an annual return of scientific research activities to the Department of Scientific and Industrial Research by 31st May each year, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary of the Department and the local tax authority by 30th June annually.
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.
Research exemption approval granted; organisation must keep separate research accounts and file annual returns and audited accounts.
Approval was granted to Sri Hurkisondas Nurrotumdas Medical Research Society for research-related tax purposes as an "Association", subject to maintaining a separate account for research receipts, filing an annual return of scientific research activities to the Department of Scientific and Industrial Research by 31st May each year, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary of the Department and the local tax authority by 30th June annually.
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