Approved institution status permits tax exempt research funds subject to separate accounting, exclusive use for social science research, and annual reporting. Approval of the Textiles Committee, Bombay as an approved institution under the Income tax Act is subject to maintaining separate accounts for exempt funds, using such funds exclusively for promotion of social science research, and submitting an annual report to the prescribed authority detailing amounts collected and their utilisation; the approval is effective for the notified period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Approved institution status permits tax exempt research funds subject to separate accounting, exclusive use for social science research, and annual reporting.
Approval of the Textiles Committee, Bombay as an approved institution under the Income tax Act is subject to maintaining separate accounts for exempt funds, using such funds exclusively for promotion of social science research, and submitting an annual report to the prescribed authority detailing amounts collected and their utilisation; the approval is effective for the notified period.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.