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Expenditure on Scientific research u/s 35(1) (iii) of IT Act 1961 - Central Government approves ‘National Institute of Design, Ahmedabad under the category of ‘University, College or Other Institution’ for ‘Scientific Research’. - 23/2023 - Income TaxExtract MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 23/2023 New Delhi, the 21st April, 2023 S.O. 1831(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 5E of the Income-tax Rules, 1962 , the Central Government hereby approves National Institute of Design, Ahmedabad (PAN: AAATN1137D) under the category of University, College or Other Institution for 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 5E of the Income-tax Rules, 1962 . 2. This Notification shall apply with effect from the date of publication in the Official Gazette (i.e., from the Previous Year 2023-24) and accordingly shall be applicable for Assessment Years 2024-2025 to 2028-2029. [F. No. 203/07/2022/ITA-II] CASTRO JAYAPRAKASH T., Under Secy. Explanatory Memorandum : It is certified that no person is being adversely affected by granting retrospective effect to this notification.
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