Approval under Section 35(1)(ii): institution approved subject to separate research accounts and annual returns to authorities. M/s. Bhandari Balweerchand Pratap Chand Memorial Research Foundation, Bombay is approved under section 35(1)(ii) as an Association in other natural and applied sciences, subject to maintaining a separate account for research receipts (excluding agriculture/animal husbandry/fisheries/medicines), furnishing an annual return of research activities to the prescribed authority by 30 April in specified form, and submitting that annual return and statement of accounts to the concerned Commissioner of Income-tax each year.
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Provisions expressly mentioned in the judgment/order text.
Approval under Section 35(1)(ii): institution approved subject to separate research accounts and annual returns to authorities.
M/s. Bhandari Balweerchand Pratap Chand Memorial Research Foundation, Bombay is approved under section 35(1)(ii) as an Association in other natural and applied sciences, subject to maintaining a separate account for research receipts (excluding agriculture/animal husbandry/fisheries/medicines), furnishing an annual return of research activities to the prescribed authority by 30 April in specified form, and submitting that annual return and statement of accounts to the concerned Commissioner of Income-tax each year.
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