U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Kozhikode District Sports Council, Kozhikode’, a body constituted under Section 9 of the Kerala Sports Act, 2000 (Act 2 of 2001), in respect of the specified income arising to that body - 68/2018 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 68/2018 New Delhi, the 22nd October, 2018 S.O. 5365(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, Kozhikode District Sports Council, Kozhikode , a body constituted under Section 9 of the Kerala Sports Act, 2000 (Act 2 of 2001), in respect of the following specified income arising to that body, namely:- (a) Grants from Government and State Sports Council; (b) Rent Collected from Stadium and shop rooms housed in Koyilandy stadium and VKK Mendon Indoor stadium; (c) Interest earned on (a) (b) above. 2. This notification shall be effective subject to the conditions that Kozhikode District Sports Council, Kozhikode- (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 years 2016-17, 2017-18 and 2018-19 and shall apply with respect to the assessment years 2019-20 and 2020-21 [F.No. 300196/01/2016-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.