Notification No. 57

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(TO BE PUBLISHED IN PART I, SUB-SECTION (ii) OF SEC TION 3 OF THE GAZETTE OF INDIA)
Government of India
Ministry of Finance (Department of Revenue)
(Central Board of Direct Taxes)
Pot
: New Dethi, the July, 2010
Notification

Ss. itis hereby notified for general intarmation that the organization MEPCO Schlenk Engineering College,

Sivakasi, Tamilnadu has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of

seetion 3S of the Income-tax Act. 1961 (said Act), read with Rules 5C and JE of the Incame-tax Rules, 1962 (said Rules), from

Assessment year 2010-2011 onwards in the category of ‘College’, partly engaged in research activities subject to the

Following conditions. namely. -

i The suns paid to the approved organization shall be utilized for scientific research:

(HH) The approved organization shall carry out scientific research throagh its faculty members or its enrolled students:

(1) The approved organization shall maintain separate books of accounts in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined m the explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duty signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under stib-section (1) of section 139 of the said Act;

(iv) The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above, ‘

2. The Central Government shall withdraw the approval if the approved organization: ‘

{a) fails to maintain separate books of accounts referred to in sub-paragraph (111) of paragraph |; or (b) fails to furnish its audit report referred to in sub-paragraph (i) of paragraph 1; or (c) Fails to furnish its statement of the donations received and sums applied for scientific research referred to in sub-
paragraph (iv) of paragraph |; ar (d) ceases to carry on its research activities or its research activities are not found to be genuine, or (e} ceases to conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said
Act read with rules SC and SE of the said Rules. 2
fen GOYAL)
Director (IFA-If)
Notification No. S 7/2010 (F.No.203/156/2009/1T A-II)
To
The Manager,
Govt. af india Press, :
Mavapuri, New Delhi ,
Copy. forwarded to:

1. The applicant organization, MEPCO Schlenk Engineering College, Sivakasi, Virudhunagar,
Tamilnadu

2. The Director General of Income Tax (Exemptions), New Delhi

3. Comptrotier & Auditor General of India.

4. CCI, Ahmedabad \,.

5. Concerned File

6. Ministry of Law & Justice (Correction Section), New Delhi. a

7. DIT (Systems), New Delhi, for placing on the website incometaxindla.gov.in

8. Guard file. aD 1

9, ITCC, CBDT (4 copies) . . a, ‘