Notification No. 7/2017 [F. No. 203/02/2016-ITA-II]
The document, verbatim
(TOBE PUBLISHED INPART q, SUB-SECTION (ii)OFSECTION 3 OF THE GAZETTE OF INDIA)
Government of India
Ministry of Finance
(Department ofRevenue)
(Centra] Board of Direct Taxes)
New Delhi, the 31° January, 2017
Notification
S.O.
It is hereby Notified forgeneral information that the Organization M/s Center ofInnovative& Applied Bio-
Processing“CIAB’) (PAN:- AABAB8297N) has been approved by the Central Government forthe Purpose ofclause
(ii) of sub-section (1) ofSection 35 Of the Income-tax Act, 196] (said Act), read with Rules 5¢and SDofthe 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 ofthe approved ‘Scientific Research Association’ ‘CIAB’ Shall be to undertake Scientific
research;
(ii)
The approved Organization shall Carry out scientific research by itself:
(iii)
The approved Organization Shall maintain Separate books of accounts for “CIAB? in respect of the sums
received by it forSCientific Tesearch, reflect therein theamounts used forCarryingout research, getsuch books
audited by an accountant as defined in the €xplanation to sub-section (2) ofsection 288 ofthe Said Act and
furnish the report of such audit dulysigned and verified by such accountant to the Commissioner of Income-
tax orthe DirectorofIncome-tax havingjurisdiction Over the case, bythe due date offurnishing the return of
income under Sub-section (1) of section 139 Of the said Act;
(iv)
The approved Organization shal] maintain a Separate Statement ofdonations received and amounts applied
for scientific research for ‘CIA
p> anda Copy ofsuch Statement duly certified by the auditor shal] accompany
the report ofaudit referred to above,
2:
The Centra] Government Shall withdraw the approval ifthe approved Organization:-
(a)
fails to maintain Separate books ofaccounts 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 OF
(c)
fails to furnish its Statement of the donations received and Sums applied for Scientific research
referred to in sub-paragraph (iv) ofParagraph |]: or
(d)
ceases 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 ofclause (ji) Of sub-section (1) of section 35 of
the said Act read with rules SC and 5Dofthe said Rules,
(Ankita Pandey)
Under Secretary to Government of India
Notification No,
Oo? 2017
(¥-No.203/02/2016/TTA-I1)
To
;
The Manager,
Govt, of India Press,
Mayapuri, New Delhi
Copy forwarded to:
1.
The applicant Organization, M/s CenterofInnovative& Applied Bio-processing (‘CIAB’)
2,
CIT (E), New Delhi
35
Web Manager, New Delhi, for Placing on the Website incometaxindia gov in
4,
ITCC, CBDT (4 Copies)
‘
5.
Concerned file
6.
Guard file.
es
(Ankita Pandey)
Under Secretary to Government of India