Exemption u/s 35(1) - Scientific research expenditure - The organization Mangalore University, Mangalore.

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....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 2011-12 and onwards in the category of 'University', partly engaged in research activities subject to the following conditions:-- (i) The sums paid to the approved organization shall be utilized for research in social sciences; ....

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.... a separate statement of donations received and amounts applied for research in social science 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 separate books of account referred to in sub-paragraph (iii) of paragraph 1; or. ....