Research-donation approval conditions specified for institution; compliance with audit and separate accounts required to retain tax approval. Approval is granted to the Bombay Natural History Society as an other institution partly engaged in scientific research, subject to conditions: funds must be used for scientific research; research must be carried out by faculty or enrolled students; separate books and a donations statement for research must be maintained; and a qualified accountant must audit research receipts and expenditures with the audit report and certified donations statement furnished to tax authorities by the income-tax return due date.
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Provisions expressly mentioned in the judgment/order text.
Research-donation approval conditions specified for institution; compliance with audit and separate accounts required to retain tax approval.
Approval is granted to the Bombay Natural History Society as an other institution partly engaged in scientific research, subject to conditions: funds must be used for scientific research; research must be carried out by faculty or enrolled students; separate books and a donations statement for research must be maintained; and a qualified accountant must audit research receipts and expenditures with the audit report and certified donations statement furnished to tax authorities by the income-tax return due date.
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