Scientific research association approval under section 35(1)(ii) enables tax-related research recognition subject to compliance. Shri Ayurveda Mahavidyalaya of Bhartiya Samanvaya Samiti, Nagpur, is approved as a scientific research association under clause (ii) of sub section (1) of section 35 of the Income tax Act, 1961, subject to maintaining separate accounts for medical research, furnishing an annual return of scientific research activities to the Council by 31st May in the prescribed form, and furnishing the annual audited statement of accounts to the Council and the concerned Income tax Commissioner by 31st May. Approval is effective for two years from 18-9-1981.
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Provisions expressly mentioned in the judgment/order text.
Scientific research association approval under section 35(1)(ii) enables tax-related research recognition subject to compliance.
Shri Ayurveda Mahavidyalaya of Bhartiya Samanvaya Samiti, Nagpur, is approved as a scientific research association under clause (ii) of sub section (1) of section 35 of the Income tax Act, 1961, subject to maintaining separate accounts for medical research, furnishing an annual return of scientific research activities to the Council by 31st May in the prescribed form, and furnishing the annual audited statement of accounts to the Council and the concerned Income tax Commissioner by 31st May. Approval is effective for two years from 18-9-1981.
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