Scientific Research Association approval granted subject to separate accounts, audited reports, disclosure and bona fide research requirements. Approval is granted to M/s National Centre for Cell Science, Pune as a Scientific Research Association subject to conditions: sole objective of undertaking scientific research carried out by the organization itself; maintenance of separate books of account for research receipts and applications; audit of such books by a defined accountant and furnishing of the audit report to the tax authorities by the due date for the income-tax return; and maintenance of an auditor-certified statement of donations and sums applied for research, with failure to comply exposing the organization to withdrawal of approval.
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Provisions expressly mentioned in the judgment/order text.
Scientific Research Association approval granted subject to separate accounts, audited reports, disclosure and bona fide research requirements.
Approval is granted to M/s National Centre for Cell Science, Pune as a Scientific Research Association subject to conditions: sole objective of undertaking scientific research carried out by the organization itself; maintenance of separate books of account for research receipts and applications; audit of such books by a defined accountant and furnishing of the audit report to the tax authorities by the due date for the income-tax return; and maintenance of an auditor-certified statement of donations and sums applied for research, with failure to comply exposing the organization to withdrawal of approval.
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