Exemption u/s 35(1) – research activities - International Advanced Research, Centre for Power Metallurgy and New Materials (ARC-International), Hyderabad

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....earch, Centre for Power Metallurgy and New Materials (ARC-International), Hyderabad has been approved by the Central Government for the purpose of clause (ii) of sub-section (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), from Assessment year 2009-10 onwards in the category of 'Other Institution', partly engaged in res....

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....shing the return of income under sub-section (1) of section 139 of the said Act; (iv) The approved organization shall maintain a separate statement 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 ....