Notification Under Section 35(1)(ii) of the Income Tax Act 1961 – NOTIFICATION No. 38/2024
S.O. 1651(E).—In exercise of the powers conferred by clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961) read with Rules 5C and 5D of the Income-tax Rules, 1962, the Central Government hereby approves ‘Amul Research and Development Association, Anand, Gujarat (PAN: AAATA2673H)’ under the category of ‘Research Association’ for research in ‘Scientific Research’ for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 read with Rules 5C and 5D of the Income-tax Rules, 1962.
- This Notification shall be deemed to have been applied from Assessment Years (AYs) 2008-09 to 2021-22.
Explanatory Memorandum
- This Notification is issued in consequence to Hon’ble Gujarat High Court order dated 04.08.2009 in Writ Petition No.2913/2009 and another order dated 16.10.2018 in SCA No. 9237 of 2012 in case of M/s Amul Research and Development Association vs. CBDT.
- It is certified that no person is being adversely affected by granting retrospective effect to this Notification.
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