Approval for scientific research association under section 35(1) requires separate research accounts and mandated reporting to authorities. Approval is granted to M/s National Institute of Rock Mechanics Champion Reefs Post as a notified Association under section 35(1) of the Income-tax Act, subject to maintaining separate books for research activities and to timely filing an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May and submission of audited accounts and audited income & expenditure statements for research activities to designated income-tax and scientific authorities by 31 October each year.
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 for scientific research association under section 35(1) requires separate research accounts and mandated reporting to authorities.
Approval is granted to M/s National Institute of Rock Mechanics Champion Reefs Post as a notified Association under section 35(1) of the Income-tax Act, subject to maintaining separate books for research activities and to timely filing an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May and submission of audited accounts and audited income & expenditure statements for research activities to designated income-tax and scientific authorities by 31 October each year.
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