Research approval under income-tax provisions enables tax-beneficial donations subject to audit, reporting and withdrawal for noncompliance. Approval to Vasantdada Sugar Institute, Pune, effective 1-4-2003, in the category of other Institution partly engaged in scientific research, is subject to conditions: funds must be used for scientific research; research must be via faculty or enrolled students; books of account must be audited and audit report furnished by the return due date; and a separate auditor-certified statement of donations and amounts applied to research must accompany the audit report. Approval is withdrawable for failures including noncompliance with bookkeeping, audit, donation-statement, genuine research activity, or applicable rules conformity.
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 approval under income-tax provisions enables tax-beneficial donations subject to audit, reporting and withdrawal for noncompliance.
Approval to Vasantdada Sugar Institute, Pune, effective 1-4-2003, in the category of other Institution partly engaged in scientific research, is subject to conditions: funds must be used for scientific research; research must be via faculty or enrolled students; books of account must be audited and audit report furnished by the return due date; and a separate auditor-certified statement of donations and amounts applied to research must accompany the audit report. Approval is withdrawable for failures including noncompliance with bookkeeping, audit, donation-statement, genuine research activity, or applicable rules conformity.
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