Research institution approval requires separate research accounts and annual returns with audited accounts filed to authority and tax commissioner. Approval is granted to Dr. Patani Scientific and Industrial Research, Bombay as an approved institution under section 35(1)(ii) for research in other natural or applied sciences, subject to maintaining a separate account for research receipts, filing an annual research activities return by 30th April, and submitting audited annual accounts and balance sheet to the prescribed authority and the tax commissioner by 30th June; approval is time-limited.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval requires separate research accounts and annual returns with audited accounts filed to authority and tax commissioner.
Approval is granted to Dr. Patani Scientific and Industrial Research, Bombay as an approved institution under section 35(1)(ii) for research in other natural or applied sciences, subject to maintaining a separate account for research receipts, filing an annual research activities return by 30th April, and submitting audited annual accounts and balance sheet to the prescribed authority and the tax commissioner by 30th June; approval is time-limited.
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