This notification contains Corrigendum to Income-tax Act 1961 carried out on January 24 1977 not reproduced here as it is already contained in the body of the Act itself.
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act 1961 (43 of 1961) the Central Government hereby notifies.
It is hereby notified for general information that the following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act 1961.
It is hereby notified for general information that the institution mentioned below has been approved by the Secretary Department of Science and Technology New Delhi the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act 1961.
It is hereby notified for general information that the following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act 1961 by the prescribed authority the Department of Science and Technology New Delhi.
That the Karnataka University shall send an annual report to the Indian Council of Social Science Research New Delhi showing the funds collected under the exemption and the manner in which the funds were utilised.
Provided that where the person keeps and maintains seperate books of account in respect of each place where the profession is carried on such books of account and other documents may be kept and maintained at the respective places at which the profession is carried on.
That the said University will furnish the annual return of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 30th April, each year.
Circular : No. 209 -Income Tax Section 244(1) provides that where a refund is due to the assessee as a result of any order passed in appeal, or other proceedings under the Act and the refund is not granted within a period of three months from the end of the month in which such order is passed, the assessee will be entitled to receive simple interest at 12 per cent per annum on the amount of the refund due from the
For the purposes of clause (b)(ii)(C), the final process of manufacture shall not be deemed to have been performed in any country in which no process other than the process of mixing, bottling, labelling, packing into retail containers or the like have been performed, but where the final process as aforesaid has been performed in the country in which the final process of manufacture has been performed, nothing herein shall render the cost of such process ineligible for inclusion in the computation of the fraction of the factory or works cost of the article in its finished state which represents expenditure on material produced and labour performed in that country.
