Approval under section 35(1)(ii) permits tax recognition subject to maintaining separate research accounts and annual audited filings. Approval is granted to Hyderabad Science Society as an Association for scientific research under the income tax research provision, subject to maintaining separate accounts for research receipts (excluding certain fields), furnishing annual returns of research activities in prescribed forms to the prescribed authority, and submitting audited annual accounts, income and expenditure statements, and balance-sheets to the prescribed authority and the concerned Commissioner of Income-tax within the stipulated annual deadlines.
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 under section 35(1)(ii) permits tax recognition subject to maintaining separate research accounts and annual audited filings.
Approval is granted to Hyderabad Science Society as an Association for scientific research under the income tax research provision, subject to maintaining separate accounts for research receipts (excluding certain fields), furnishing annual returns of research activities in prescribed forms to the prescribed authority, and submitting audited annual accounts, income and expenditure statements, and balance-sheets to the prescribed authority and the concerned Commissioner of Income-tax within the stipulated annual deadlines.
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