Research exemption approved with requirement of separate fund, exclusive use for social science research and annual reporting. Approval is granted to the Centre for Regional Development Studies, Surat, under clause (iii) of sub section (1) of section 35 of the Income tax Act, subject to conditions: the management must create and maintain a separate fund and account for amounts received under the exemption; the fund may be used only for social science research as defined by the Indian Council of Social Science Research; and annual submission of the fund's statement of accounts and all research reports to the Council within three months of year end is required.
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Provisions expressly mentioned in the judgment/order text.
Research exemption approved with requirement of separate fund, exclusive use for social science research and annual reporting.
Approval is granted to the Centre for Regional Development Studies, Surat, under clause (iii) of sub section (1) of section 35 of the Income tax Act, subject to conditions: the management must create and maintain a separate fund and account for amounts received under the exemption; the fund may be used only for social science research as defined by the Indian Council of Social Science Research; and annual submission of the fund's statement of accounts and all research reports to the Council within three months of year end is required.
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