Section 10(46) of the Income-tax Act, 1961 – Central Government notifies Competition Commission of India , a Commission established under sub-section (1) of section 7 of the Competition Act, 2002 (12 of 2003), in respect of the certain specified income arising to the said Commission - 8/2016 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 8/2016 New Delhi, the 19 th February, 2016 S. O. 530(E).- In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby notifies for the purpose of the said clause, the Competition Commission of India, a Commission established under sub-section (1) of section 7 of the Competition Act, 2002 (12 of 2003) , in respect of the following specified income arising to the said Commission, namely:- (a) amount received in the form of Government grants; (b) fees received under the Competition Act, 2002 ; and (c) interest accrued on Government grants and interest accrued on fees received under the Competition Act, 2002 . 2. This notification shall be effective subject to the following conditions, namely:- (i) the Competition Commission of India does not engage in any commercial activity; (ii) the activities and the nature of the specified income of the Competition Commission of India shall remain unchanged throughout the financial years; and (iii) the Competition Commission of India shall file return of income in accordance with clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961 . 3. This notification shall be applicable for the specified income of the Competition Commission of India for the financial years 2016-2017 to 2020-2021. [ F.No.196/32/2014-ITA-I] DEEPSHIKHA SHARMA, Director