U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Tripura Electricity Regulatory Commission’, a commission constituted by the State Government of Tripura, in respect of the specified income arising to the said Commission - 49/2018 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) ( CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 49/2018 New Delhi, the 14th September, 2018 S.O. 4863(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, Tripura Electricity Regulatory Commission , a commission constituted by the State Government of Tripura, in respect of the following specified income arising to the said Commission, namely:-- (a) Grants received from State Government; (b) Annual License fee under Electricity Act, 2003; (c) Petition fees under Electricity Act, 2003; (d) Tender fee/Earnest money; and (e) Interest on (a) to (d) above. 2. This notification shall be effective subject to the conditions that Tripura State 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 Income-tax Act, 1961. 3. This notification shall be deemed to have been applied for the assessment year 2018-19 and shall apply with respect to the assessment years 2019-20, 2020-21, 2021-22 and 2022-23. [F.No.300196/32/2017-ITA-I] VINAY SHEEL GAUTAM, Under Secy. Explanatory Memorandum : It is certified that no person is being adversely affected by giving retrospective effect to this notification.