Organisation The Bombay Textile Research Association, Mumbai has been approved u/s. 35(1)(ii) of the Income tax Act, 1961

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....nformation that the organization The Bombay Textile Research Association, Mumbai has been approved by the Central Government for the purpose of clause (ii) of subsection (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), with effect from 1.4.1999 in the category of 'other Institution', partly engaged in research activitie....

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....nt of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above. 2.The Central Government shall withdraw the approval if the approved organization:- (a) fails to maintain books of account referred to in sub-paragraph (iii) of paragraph 1; or (b) fails to furnish its audit report....