Approval under section 35(1)(ii) permits university research deductions subject to separate accounts, audited reports and donation statements. Approval for research deduction purposes has been granted to Indian Institute of Technology Bombay as a University partly engaged in research, effective from 1-4-2006, contingent on use of sums for scientific research and conduct of research by faculty or enrolled students. The institute must keep separate books of account for research receipts and expenditures, obtain and furnish an auditor's report with the income tax return, and provide a certified statement of donations and application of funds. The Government may withdraw approval for failure to maintain accounts, furnish reports, cease genuine research, or otherwise breach the statutory conditions.
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.
Approval under section 35(1)(ii) permits university research deductions subject to separate accounts, audited reports and donation statements.
Approval for research deduction purposes has been granted to Indian Institute of Technology Bombay as a University partly engaged in research, effective from 1-4-2006, contingent on use of sums for scientific research and conduct of research by faculty or enrolled students. The institute must keep separate books of account for research receipts and expenditures, obtain and furnish an auditor's report with the income tax return, and provide a certified statement of donations and application of funds. The Government may withdraw approval for failure to maintain accounts, furnish reports, cease genuine research, or otherwise breach the statutory conditions.
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