Exemption under section 35(1)(iii) approved for a research institution, confirming prescribed-authority approval and tax-deduction eligibility. The Council of Scientific and Industrial Research, as the prescribed authority, approved The Stock Exchange Foundation, Bombay for purposes of clause (iii) of sub section (1) of section 35 of the Income tax Act, 1961, thereby recognising the institution for the statutory exemption; a prior erroneous reference to clause (ii) was corrected by a later notification.
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Provisions expressly mentioned in the judgment/order text.
Exemption under section 35(1)(iii) approved for a research institution, confirming prescribed-authority approval and tax-deduction eligibility.
The Council of Scientific and Industrial Research, as the prescribed authority, approved The Stock Exchange Foundation, Bombay for purposes of clause (iii) of sub section (1) of section 35 of the Income tax Act, 1961, thereby recognising the institution for the statutory exemption; a prior erroneous reference to clause (ii) was corrected by a later notification.
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