U/s 10(46) of the Income-tax Act, 1961 Central Government notifies Gujarat Electricity Regulatory Commission, , a Commission constituted under the Electricity Regulatory Commissions Act, 1998, in respect of the specified income arising to that Commission - 84/2017 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 84/2017 New Delhi, the 30th August, 2017 S. O. 2829(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, Gujarat Electricity Regulatory Commission , a Commission constituted under the Electricity Regulatory Commissions Act, 1998 , in respect of the following specified income arising to that Commission, namely:- (a) amounts received in form of grants and aid from Government; (b) amount received in the form of petition fees or processing fee for determination of tariff; (c) amount received in the form of License fees; Application fees or in nature of fines; (d) interest earned on investment or deposit or Saving/Current Bank Accounts; (e) fees for documents; (f) penalty or interest for delayed payment of Annual License fees; and (g) fees for RTI. 2. This notification shall be effective subject to the conditions that Gujarat Electricity Regulatory Commission:- (a) shall not engage in any commercial activity; (b) activities and the nature of the specified income shall 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) of section 139 of the said Act. 3. This notification shall be deemed to have been applied for the financial year 2016-2017 and shall apply with respect to financial years 2017-2018, 2018-2019, 2019-2020 and 2020-2021. [F. No. 300196/8/2017-ITA-I] DEEPSHIKHA SHARMA, Director Explanatory Memorandum.- It is certified that no person is being adversely affected by giving retrospective effect to this notification.