Notification: S.O.1831
Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 3/4/1987
It is hereby notified for general information that the approval on perpetual basis granted under section 35(1)(ii) of the Income-tax Act, 1961, vide Ministry of Finance (Department of Revenue), Notification S.O. No. 2247 (F. No. 10/27/67-ITA.I), dated 29-6-1967, to the Birla Planetarium and Astronomical Research Centre, Calcutta, is hereby converted into a time-bound approval valid up to 31-3-1988, subject to the following conditions :—
(a) That the Centre will maintain a separate account of the sums received by it for scientific research.
(b) That it will furnish annual returns of its previous year regarding its scientific research activities to the prescribed authority in the prescribed form by 31st May, each year.
(c) It will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes and the concerned Commissioner of Income-tax.
(d) It will apply to the Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
(e) It will not receive any sum to be used for non-research activities such as maintenance of educational institutions as well as running and maintenance of Birla Planetarium under section 35(1)(ii).
[No. 7217 (F. No. 203/34/87-ITA.II)
