Research institution approval enables income-tax exemption recognition following prescribed authority certification for scientific research institutions. The notification records that Victoria Jubilee Technical Institute, Bombay, has been approved by the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35, thereby bringing the institution within the statutory income-tax exemption framework and specifying the approval's operative commencement as declared in the notice.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval enables income-tax exemption recognition following prescribed authority certification for scientific research institutions.
The notification records that Victoria Jubilee Technical Institute, Bombay, has been approved by the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35, thereby bringing the institution within the statutory income-tax exemption framework and specifying the approval's operative commencement as declared in the notice.
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