Approval for research institution status under section 35(1)(ii) conditions tax recognition on accounting and reporting compliance. Children's Orthopaedic Hospital, Bombay is notified as an approved Scientific Research Association for medical research for a specified three year period. Approval is conditional on maintaining a separate account for research receipts, furnishing annual returns of research activities to the prescribed authority by 31 May in the prescribed form, and providing the annual audited statement of accounts to the authority by 31 May with a copy to the concerned Income tax Commissioner.
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.
Approval for research institution status under section 35(1)(ii) conditions tax recognition on accounting and reporting compliance.
Children's Orthopaedic Hospital, Bombay is notified as an approved Scientific Research Association for medical research for a specified three year period. Approval is conditional on maintaining a separate account for research receipts, furnishing annual returns of research activities to the prescribed authority by 31 May in the prescribed form, and providing the annual audited statement of accounts to the authority by 31 May with a copy to the concerned Income tax Commissioner.
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