Scientific research approval under Income tax Act grants tax recognition subject to accounting and annual reporting requirements. Approval is granted to Nanikram Menghraj Heart Hospital and Cardiovascular Research Centre, Bombay as a Scientific Research Association under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, read with rule 6(ii) of the Income-tax Rules. The institution must maintain a separate account for research funds and furnish annual returns of scientific research activities to the Indian Council of Medical Research by 15 May each year. The approval is effective from 15 March 1978 to 14 March 1980.
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Provisions expressly mentioned in the judgment/order text.
Scientific research approval under Income tax Act grants tax recognition subject to accounting and annual reporting requirements.
Approval is granted to Nanikram Menghraj Heart Hospital and Cardiovascular Research Centre, Bombay as a Scientific Research Association under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, read with rule 6(ii) of the Income-tax Rules. The institution must maintain a separate account for research funds and furnish annual returns of scientific research activities to the Indian Council of Medical Research by 15 May each year. The approval is effective from 15 March 1978 to 14 March 1980.
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