Section 8 - Amendment of section 35 - Direct Tax Laws (Amendment) Act, 1989

8. Amendment of section 35. In section 35 of the Income-tax Act [as it stood immediately before its omission by section 10 of the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988)], in sub-section (1),- (a) in clause (ii), in the proviso, after the words prescribed authority , the words by notification in the Official Gazette shall be inserted; - (b) in clause (iii), after the words prescribed authority , the words by notification in the Official Gazette shall be inserted; (c) the following provisos shall be inserted at the end, namely :- Provided that the scientific research association, university, college or other institution referred to in clause (ii) or clause (iii) shall make an application in the prescribed form and manner to the prescribed authority for the purpose of grant of approval, or continuance thereof, under clause (ii) or, as the case may be, clause (iii): Provided further that the prescribed authority may, before granting approval under clause (ii) or clause (iii), call for such documents (including audited annual accounts) or information from the scientific research association, university, college or other institution as it thinks necessary in order to satisfy itself about the genuineness of the activities of the scientific research association, university, college or other institution and that authority may also make such inquiries as it may deem necessary in this behalf: Provided also that any notification issued by the prescribed authority under clause (ii) or clause (iii) shall, at any one time, have effect for such assessment year or years, not exceeding three assessment years (including an assessment year or years commencing before the date on which such notification is issued) as may be specified in the notification .