U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Andhra Pradesh Electricity Regulatory Commission’, a Commission constituted under the Andhra Pradesh Electricity Reforms Act, 1998, in respect of the specified income arising to that Commission - 24/2019 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 24/2019 New Delhi, the 19th March, 2019 S.O. 1397(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, Andhra Pradesh Electricity Regulatory Commission , Hyderabad, a Commission constituted under the Andhra Pradesh Electricity Reforms Act, 1998 (Government of Andhra Pradesh Act 30 of 1998), in respect of the following specified income arising to that Commission, namely:- (a) Licence fee received under the Electricity Act, 2003; (b) Grants-in-Aid received from Government; and (c) Interest earned on (a) (b) above. 2. This notification shall be effective subject to the conditions that Andhra Pradesh Electricity Regulatory Commission, Hyderabad,- (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 apply with respect to the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024. [F. No. 300196/73/2018-ITA-I] RAJARAJESWARI R., Under Secy.