Research institution approval under section 35(1)(ii) conditions eligibility on separate accounts, annual returns and audited submissions. Approval of Bala Mandir Research Foundation as an approved research association under section 35(1)(ii) is subject to conditions: maintain a separate research account; furnish annual returns of research activities by 30th April; submit audited annual accounts and balance sheet to the prescribed authority and the Commissioner by 30th June; and apply for renewal to the Central Board of Direct Taxes at least three months before approval expiry, with late applications liable to rejection.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(ii) conditions eligibility on separate accounts, annual returns and audited submissions.
Approval of Bala Mandir Research Foundation as an approved research association under section 35(1)(ii) is subject to conditions: maintain a separate research account; furnish annual returns of research activities by 30th April; submit audited annual accounts and balance sheet to the prescribed authority and the Commissioner by 30th June; and apply for renewal to the Central Board of Direct Taxes at least three months before approval expiry, with late applications liable to rejection.
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