Approval under Section 35(1)(ii) conditions research accounting, annual returns, audited submissions and renewal application obligations. Approval is granted to M/s Indian Institute of Science under Section 35(1)(ii) as a 'University' for the specified period, subject to maintaining separate research accounts, filing an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited income and expenditure accounts for research activities to designated income-tax and scientific authorities by 31 October, in addition to filing the return of income. Renewal applications must be made in triplicate through the tax exemptions office and sent to the Secretary, Department of Scientific and Industrial Research.
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Provisions expressly mentioned in the judgment/order text.
Approval under Section 35(1)(ii) conditions research accounting, annual returns, audited submissions and renewal application obligations.
Approval is granted to M/s Indian Institute of Science under Section 35(1)(ii) as a "University" for the specified period, subject to maintaining separate research accounts, filing an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited income and expenditure accounts for research activities to designated income-tax and scientific authorities by 31 October, in addition to filing the return of income. Renewal applications must be made in triplicate through the tax exemptions office and sent to the Secretary, Department of Scientific and Industrial Research.
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