“expenditure on scientific research” includes donations made to any university, college, technical school or other institution approved by the Board, but shall not include the following expenditure, namely:—

(a) acquisition of any such asset or intangible asset to which depreciation or amortization allowance is applicable;

(b) acquisition of fixed assets; or

(c) any expense incurred for the purpose of determining the existence, location, extent or quality of any natural resource;