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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Foundation for Medical Research in Bombay Gains ICMR Approval for Tax Exemption Under Section 35 of Income-tax Act</h1> The Foundation for Medical Research in Bombay has been approved by the Indian Council of Medical Research as a recognized institution for research purposes under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961. This approval grants the institution an exemption for research-related activities. The Foundation is required to submit an annual report and accounts of its research activities to the prescribed authority. This notification is effective for a period of two years from January 15, 1976.