Research approval under section 35(1)(ii) requires separate research accounts and specified annual audited returns and filings. Approval under section 35(1)(ii) is granted to M/s. Muljibhai Patel Society for Research in Nephro-Urology as an Institution subject to conditions: maintain separate books for research activities; furnish annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31st May; and submit audited annual accounts and audited income & expenditure accounts for the research activities to the Director General of Income Tax (Exemptions), the Secretary, Department of Scientific & Industrial Research, and the Commissioner/Director of Income Tax (Exemptions) having jurisdiction by 31st October, in addition to the income tax return to the designated assessing officer.
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Provisions expressly mentioned in the judgment/order text.
Research approval under section 35(1)(ii) requires separate research accounts and specified annual audited returns and filings.
Approval under section 35(1)(ii) is granted to M/s. Muljibhai Patel Society for Research in Nephro-Urology as an Institution subject to conditions: maintain separate books for research activities; furnish annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31st May; and submit audited annual accounts and audited income & expenditure accounts for the research activities to the Director General of Income Tax (Exemptions), the Secretary, Department of Scientific & Industrial Research, and the Commissioner/Director of Income Tax (Exemptions) having jurisdiction by 31st October, in addition to the income tax return to the designated assessing officer.
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