Research donation exemption approved for institute, subject to utilization, audit and reporting conditions under specified rules. Approval is granted to Indian Institute of Technology, Hyderabad as an other Institution partly engaged in scientific research for the purposes of research-related tax exemption, subject to utilization of sums for scientific research; research through faculty or enrolled students; maintenance of separate books of account with an auditor's report filed by the income tax return due date; and a certified statement of donations and amounts applied for research. The approval may be withdrawn for failures to maintain accounts, furnish reports, certify donations, or for cessation/non-genuine research or non-compliance with the governing rules.
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Provisions expressly mentioned in the judgment/order text.
Research donation exemption approved for institute, subject to utilization, audit and reporting conditions under specified rules.
Approval is granted to Indian Institute of Technology, Hyderabad as an other Institution partly engaged in scientific research for the purposes of research-related tax exemption, subject to utilization of sums for scientific research; research through faculty or enrolled students; maintenance of separate books of account with an auditor's report filed by the income tax return due date; and a certified statement of donations and amounts applied for research. The approval may be withdrawn for failures to maintain accounts, furnish reports, certify donations, or for cessation/non-genuine research or non-compliance with the governing rules.
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