Section 10(46) of the Income-tax Act, 1961 – Central Government notifies Tamil Nadu Electricity Regulatory Commission, a body constituted by Government of Tamil Nadu, in respect of the following specified income arising to that Commission - 72/2016 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) CENTRAL BOARD OF DIRECT TAXES NOTIFICATION NO. 72/2016 New Delhi, the 17th August, 2016 S.O. 2727(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 purposes of the said clause, Tamil Nadu Electricity Regulatory Commission, a body constituted by Government of Tamil Nadu, in respect of the following specified income arising to that Commission, namely:- (a) amount received in the form of government grants; (b) fees levied under clause (g) of sub-section (1) of Section 86 read with Section 181 of the Electricity Act, 2003; (c) penalties levied u/s 146 of the Electricity Act, 2003; (d) interest income earned on government grants; and (e) interest income earned on fee/revenue received under the Electricity Act, 2003. 2. This notification shall be effective subject to the conditions that Tamil Nadu Electricity Regulatory Commission,- (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income remain unchanged throughout the financial years; and (c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the Income-tax Act, 1961 . 3. This notification shall be deemed to have been apply for the period 01.06.2011 to 31.03.2012 and financial years 2012-13, 2013-14, 2014-15 and 2015-16. [F.No.196/3/2012-ITA-I] DEEPSHIKHA SHARMA, Director