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Ministry of Finance, Department of Revenue, specifically the Central Board of Direct Taxes (CBDT), issued Notification No. 38/2024-Income Tax on April 9, 2024. This notification pertains to the approval of ‘Amul Research and Development Association’ situated in Anand, Gujarat, for tax benefits under section 35 of the Income-tax Act, 1961.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 9th April, 2024

Notification No. 38/2024-Income Tax | Dated : 9th April, 2024

S.O. 1651(E).—In exercise of the powers conferred by clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961) read with Rules 5C and 5D of the Income-tax Rules, 1962, the Central Government hereby approves ‘Amul Research and Development Association, Anand, Gujarat (PAN: AAATA2673H)’ under the category of ‘Research Association’ for research in ‘Scientific Research’ for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 read with Rules 5C and 5D of the Income-tax Rules, 1962.

2. This Notification shall be deemed to have been applied from Assessment Years (AYs) 2008-09 to 2021-22.

[F. No. 203/10/2021/ITA-II]
CASTRO JAYAPRAKASH. T., Under Secy.

Explanatory Memorandum

1. This Notification is issued in consequence to Hon’ble Gujarat High Court order dated 04.08.2009 in Writ Petition No.2913/2009 and another order dated 16.10.2018 in SCA No. 9237 of 2012 in case of M/s Amul Research and Development Association vs. CBDT.

2. It is certified that no person is being adversely affected by granting retrospective effect to this Notification.

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