Research institution approval under section 35(1)(ii) confers tax-exemption recognition for registered qualifying scientific institutions by prescribed authority. The Amul Research and Development Association, Anand, has been approved by the prescribed authority for the purposes of clause (ii) of sub-section (1) of the Income-tax Act, 1961, thereby satisfying the formal recognition requirement for the research-institution tax-exemption regime.
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Research institution approval under section 35(1)(ii) confers tax-exemption recognition for registered qualifying scientific institutions by prescribed authority.
The Amul Research and Development Association, Anand, has been approved by the prescribed authority for the purposes of clause (ii) of sub-section (1) of the Income-tax Act, 1961, thereby satisfying the formal recognition requirement for the research-institution tax-exemption regime.
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