Notification No. 7/2017 [F. No. 203/02/2016-ITA-II]

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(TO BE PUBLISHED IN PART I, SUB-SECTION (ii) OF SECTION 3 OF THE GAZETTE OF INDIA)
Government of India
Ministry of Finance (Department of Revenue)
(Centra] Board of Direct Taxes)
New Delhi, the 31° January, 20] 7
Notification
S.0. It is hereby notified for genera] information that the Organization M/s Center of Innovative & Applied Bio-
Processing(‘CIA BR ”) (PAN:- AABAB8297N) has been approved by the Central Government for the Purpose of clause (ii) of Sub-section (1) of S ction 35 of the Income-tax Act, 196] (said Act), read with Rules 5¢ and 5D of the Income-
tax Rules, 1962 (said Rules), from Assessment year 2016-2017 Onwards in the Category of ‘Scientific Research
Association’, Subject to the following conditions, namely:-
(i) The sole Objective Of the approved “Scientific Research Association’ ‘CIAB’ shall be to undertake SCientific research;

(ii) The approved Organization shal] carry out scientific research by itself:

(iii) The approved Organization shal] Maintain Separate books of accounts for ‘CIAB? 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 in the explanation to sub-section (2) of S ction 288 of the said Act and furnish the report of such audit duly 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 sub-section (1) of Section 139 of the said Act;

(iv) The approved Organization shal] maintain a Separate Statement of donations received and amounts applied for scientific research for ‘CIA R> anda Copy of such Statement duly certified by the auditor shal] accompany the report of audit referred to above, :

2: The Centra] Government Shall withdraw the approval if the approved Organization;:-
(a) fails to maintain Separate books of accounts referred to in Sub-paragraph (iii) of Paragraph 1; or (b) fails to furnish its audit report referred to in sub-paragraph (iii) 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 |; or (d) C aSes to carry on its research activities or its research activities are Not found to be 8enuine; 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 5D of the said Rules, (Ankita Pandey)
Under Secretary to Government of India
Notification No, oO? 017
(-No.203/02/2016/TA-I1)
To
The Manager,
Govt. of India Press,
Mayapuri, New Delhi
Copy forwarded to:
1. The applicant Organization, M/s Center of Innovative & Applied Bio-processing (‘CIAB’)
2; CIT (E), New Delhi
3: Web Manager, New Delhi, for Placing on the Website incometaxindia gov in
4, ITCC, CBDT (4 Copies) .
5. Concerned file
6. Guard file. x"
(Ankita Pandey)
Under Secretary to Government of India