Approval as Scientific Research Association: granted subject to separate accounts, audit reports and donation disclosure; withdrawal for noncompliance. Approval of M/s LPG Equipment Research Centre as a Scientific Research Association is subject to carrying out its own scientific research, maintaining separate books of account for research receipts and applications, obtaining and furnishing an audit report by a defined accountant by the income tax return due date, and furnishing an auditor certified statement of donations and amounts applied for research; approval is withdrawable for failure to meet these conditions or if research activity ceases or is not genuine.
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Provisions expressly mentioned in the judgment/order text.
Approval as Scientific Research Association: granted subject to separate accounts, audit reports and donation disclosure; withdrawal for noncompliance.
Approval of M/s LPG Equipment Research Centre as a Scientific Research Association is subject to carrying out its own scientific research, maintaining separate books of account for research receipts and applications, obtaining and furnishing an audit report by a defined accountant by the income tax return due date, and furnishing an auditor certified statement of donations and amounts applied for research; approval is withdrawable for failure to meet these conditions or if research activity ceases or is not genuine.
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