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<h1>Tax authority recognizes company as conducting scientific research under clause (iia) of Section 35(1) read with Rule 5F &D</h1> The Principal Chief Commissioner of Income Tax (Exemptions) has approved a company for recognition as conducting 'scientific research' under clause (iia) of section 35(1) of the Income-tax Act, 1961 read with Rule 5F of the Income-tax Rules, 1962. The approval applies retrospectively for five assessment years, from AY 2025-26 to AY 2029-30. The explanatory memorandum certifies that no person is adversely affected by granting retrospective effect to this notification.