Approved Shri A. M. M. Murugappa Chettiar Research Centre, Madras u/s 35(1)(ii) - S.O.1839 - Income Tax

Approved Shri A. M. M. Murugappa Chettiar Research Centre, Madras u/s 35(1)(ii) NOTIFICATION NO. S.O.1839 DATED 10-4-1987 It is hereby notified for general information that the perpetual approval granted under section 35(1)( ii ) of the Income-tax Act, 1961, to Shri A. M. M. Murugappa Chettiar Research Centre, Madras, vide Ministry of Finance (Department of Revenue and Insurance), Notification No. 562 (F. No. 203/65/73-ITA. II), dated 19-2-1975 is hereby converted into time-bound approval valid up to 31-3-1988 subject to the following conditions :--- ( i ) That Shri A. M. M. Murugappa Chettiar Research Centre, Madras, will maintain a separate account of the sums received by it for scientific research. ( ii ) That the said Institute will furnish annual returns 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 31st May, each year. ( iii ) That the said Institute 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, New Delhi, and the concerned Commissioner of Income-tax. ( iv ) That the said Institute will apply to the Central Board of Direct Taxes, 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. [No. 7241 (F. No. 203/61/87-ITA. II)]