Income Tax Act, 2025
Section 7: Subs. by Act 49 of 1991, s. 5, for “Provided further” (w.e.f. 11990).
7. Subs. by Act 49 of 1991, s. 5, for “Provided further” (w.e.f. 11990).
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to in clause (b) of the first proviso to this clause, subject to the condition that such voluntary
contribution is not held by the 1[research association], otherwise than in any one or more of the forms
or modes specified in sub-section (5) of section 11, after the expiry of one year from the end of the
previous year in which such asset is acquired or the 31st day of March, 1992, whichever is later:
Provided also] that nothing contained in this clause shall apply in relation to any income of the
1[research association], bei ng profits and gains of business, unless the business is incidental to the
attainment of its objectives and separate books of account are maintained by it in respect of such
business:]
2[Provided also that where the 1[research association] is approved by the Central Government and
subsequently that Government is satisfied that—
(i) the 1[research association] has not applied its income in accordance with the provisions
contained in clause (a) of the first proviso; or
(ii) the 1[research association] has not invested or deposited its funds in accordance with the
provisions contained in clause (b) of the first proviso; or
(iii) the activities of the 1[research association] are not genuine; or
(iv) the activities of the 1[research association] are not being carried out in accordance with all
or any of the conditions subject to which such association was approved,
it may, at any time after giving a reasonable opportunity of showing cause against the proposed
withdrawal to the concerned association, by order, withdraw the approval and forward a copy of
the order withdrawing the approval to such association and to the Assessing Officer;]
3* * * * *
4[(22B) any income of such news agency set up in India solely for collection and distribution of
news as the Central Government may, by notification in the Official Gazette, specify in this behalf:
Provided that the news agency applies its income or accumulates it for application solely for
collection and distribution of news and does not distribute its income in any manner to its members:
Provided further that any notification issued by the Central Government under this clause shall, at
any one time, have effect for such assessment year or years, not exceeding three assessment years
(including an assessment year or years commencing before the date on which such notification is
issued) as may be specified in the notification:]
2[Provided also that where the news agency has been specified, by notification, by the Central
Government and subsequently that Government is satisfied that such news agency has not applied or
accumulated or distributed its income in accordance with the provisions contained in the first proviso,
it may, at any time after giving a reasonable opportunity of showing cause, rescind the notification
and forward a copy of the order rescinding the notification to such agency and to the Assessing
Officer;]
5* * * * *
1. Subs. by Act 14 of 2010, s. 5, for “scientific research association” (w.e.f. 12011).
of the first proviso to this clause, subject to the condition that such voluntary
contribution is not held by the 1[research association], otherwise than in any one or more of the forms
or modes specified in sub-section
of section 11, after the expiry of one year from the end of the
previous year in which such asset is acquired or the 31st day of March, 1992, whichever is later:
Provided also] that nothing contained in this clause shall apply in relation to any income of the
1[research association], bei ng profits and gains of business, unless the business is incidental to the
attainment of its objectives and separate books of account are maintained by it in respect of such
business:]
2[Provided also that where the 1[research association] is approved by the Central Government and
subsequently that Government is satisfied that—
the 1[research association] has not applied its income in accordance with the provisions
contained in clause
of the first proviso; or
the 1[research association] has not invested or deposited its funds in accordance with the
provisions contained in clause
of the first proviso; or
the activities of the 1[research association] are not genuine; or
the activities of the 1[research association] are not being carried out in accordance with all
or any of the conditions subject to which such association was approved,
it may, at any time after giving a reasonable opportunity of showing cause against the proposed
withdrawal to the concerned association, by order, withdraw the approval and forward a copy of
the order withdrawing the approval to such association and to the Assessing Officer;]
3* * * * *
4[
any income of such news agency set up in India solely for collection and distribution of
news as the Central Government may, by notification in the Official Gazette, specify in this behalf:
Provided that the news agency applies its income or accumulates it for application solely for
collection and distribution of news and does not distribute its income in any manner to its members:
Provided further that any notification issued by the Central Government under this clause shall, at
any one time, have effect for such assessment year or years, not exceeding three assessment years
(including an assessment year or years commencing before the date on which such notification is
issued) as may be specified in the notification:]
2[Provided also that where the news agency has been specified, by notification, by the Central
Government and subsequently that Government is satisfied that such news agency has not applied or
accumulated or distributed its income in accordance with the provisions contained in the first proviso,
it may, at any time after giving a reasonable opportunity of showing cause, rescind the notification
and forward a copy of the order rescinding the notification to such agency and to the Assessing
Officer;]
5* * * * *
1. Subs. by Act 14 of 2010, s. 5, for “scientific research association” (w.e.f. 12011).