Research expenditure exemption approved subject to compliance with audit, donation accounting, and genuine research conditions. Approval is granted to Physical Research Laboratory, Ahmedabad as a scientific research association enabling research expenditure exemption, subject to conditions: sole objective of undertaking scientific research; carrying out the research activity itself; maintaining books of account and obtaining an eligible audit with the audit report filed by the income-tax return due date; and maintaining a certified statement of donations received and amounts applied for scientific research to accompany the audit report. Approval may be withdrawn for failure to comply with these requirements or if research activities cease to be genuine.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Research expenditure exemption approved subject to compliance with audit, donation accounting, and genuine research conditions.
Approval is granted to Physical Research Laboratory, Ahmedabad as a scientific research association enabling research expenditure exemption, subject to conditions: sole objective of undertaking scientific research; carrying out the research activity itself; maintaining books of account and obtaining an eligible audit with the audit report filed by the income-tax return due date; and maintaining a certified statement of donations received and amounts applied for scientific research to accompany the audit report. Approval may be withdrawn for failure to comply with these requirements or if research activities cease to be genuine.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
