Notification No. 4/2011

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(TO BE PUBLISHED IN PART Il, SUB-SECTION (ii) OF SECTION 3 GF THE GAZETTE OF INDIA) ,
Government of tndia |
Ministry of Finance (Department of Revenne) ; (Central Board of Direet Taxes) . |
’ , New Delhi, the \oYonuary, 2011
Notification f
3.0, Itis hereby notified for general information that the organization International Advanced Research, Centre for Power Metallurgy and New Materiais (ARC-International), Hyderabad has been approved by the Central wi
Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Incoine-tax Act, 196] (saicl Act), read with
Rules SC and SE of the Income-tux Rules, 1962 (said Rules), from Assessment year 2009-2610 onwards in the category of .
‘Other Institution’, partly engaged in research activities subject to the following conditions, namely:- as () The sums paid to the approved organization shall be utilized for scientific research; ‘
, {ii} The approved organization shall carry out scientitic research through its faculty members or its enrolled students:
{iii} The approved organization shall maintain separate hooks of accounts in respect of the sums ceecived by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verificd 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 sub-section :
(1) of section 139 of the said Act; (iv) The approved organization shalt maintain 4 separate statement of donations received und amounts applied for
Suientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above. 2
as The Ceitral Government shall withdrusy the approval if the approved organization:- ; (a) fails to maintain separate books of accounts retecred to in sub-paragraph (ii) of paragraph 1; or
{h) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph t; or () fails to furnish its statement of the donations reccived and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph 1; or
{d} Ceases to carry on its research activities or its rescarch activities are not found to be genuine; or (e) ceases to conform to and comply with the provisions of clause (ij) of sub-section (1} of section 35 of the said Act read with rules 5C and SE of the said Rules, i:
an Ht Director (ITA-I1)
Natificatton No. (4 2930 De? t/ Sg ee (F.No.203/27/2010/1TA-ID)
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Govt, of India Press, VA| | Se, ee
Mayapuri, New Delhi Pad ys ai iw SAE tgoeunsice
Copy forwurded to:
t. The applicant organization, international Advanced Research, Centre for Power Metailurgy and New .
Materials (ARC-[uternational) , Village :Bula pur, Distt. Ranga Reddy, Hyderabad, 5) OOS
2. ‘The Director General of Income Tax (Exemptions), Delhi
3. Comptroller & Auditor General of Sudia.
4. CCIT, I'YDERABAD
aH Concerned File
, 6. Ministry of Law & Justice (Correction Section), New Delhi,
7. DI (Systems), New Delhi, for plucing on the website incometaxindig.pov.in
; 8. Guard file. PAN: AAAI0324C° :
9, _ ITCC, CBDT (4 copies) ‘ i
; AJAY COYAL)
. : Dirvetor (JTA-1}
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