Approved Institution Man-Made Textile Research Foundation, Resham Bhavan, Bombay u/s 35(1)(iii) - S.O.2332 - Income Tax

Approved Institution Man-Made Textile Research Foundation, Resham Bhavan, Bombay u/s 35(1)(iii) NOTIFICATION NO. S.O.2332 DATED 28-3-1989 In continuation of this Office Notification No. 7525 (F. No. 203/99/87-ITA. II), dated 14th September, 1987, it is hereby notified for general information that the Institution mentioned below has been approved by the Department of Scientific and Industrial Research, New Delhi, the prescribed authority for the purposes of clause ( iii ) of sub-section (1) of section 35 (thirty-five/one/three) of the Income-tax Act, 1961, read with rule 6 of the Income-tax Rules, 1962, under the category "Institution" subject to the following conditions :--- ( i ) That the Man-Made Textile Research Foundation, Bombay, 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 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, DGIT (Exemption), Calcutta, 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 and DGIT (Exemption), Calcutta, before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected. INSTITUTION/ASSOCIATION Man-Made Textile Research Foundation, Resham Bhavan, 78, Veer Nariman Road, Bombay-400 020. This notification is effective for the period from 1st April, 1988, to 31st March, 1989. [No. 8297/F. No. 203/43/89-ITA. II]