Research approval grants tax-recognition subject to separate research accounts and annual returns annually to authorities. The Institute of Road Transport, Madras is approved as an approved institution for research in other natural or applied sciences (excluding agriculture, animal husbandry, fisheries and medicines) subject to conditions: maintain a separate account for sums received for eligible scientific research; furnish annual returns of scientific research activities to the prescribed authority by 30 April each year; and submit annual return and statement of accounts to the Commissioner of Income-tax, Madras. Approval is effective for a fixed three-year 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.
Research approval grants tax-recognition subject to separate research accounts and annual returns annually to authorities.
The Institute of Road Transport, Madras is approved as an approved institution for research in other natural or applied sciences (excluding agriculture, animal husbandry, fisheries and medicines) subject to conditions: maintain a separate account for sums received for eligible scientific research; furnish annual returns of scientific research activities to the prescribed authority by 30 April each year; and submit annual return and statement of accounts to the Commissioner of Income-tax, Madras. Approval is effective for a fixed three-year period.
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