Exemption from specified income U/s 10(46) of IT Act 1961 – 'Himachal Pradesh State Load Despatch Centre, Shimla' - 95/2024 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 95/2024 New Delhi, the 24th July, 2024 S.O. 2934(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, Himachal Pradesh State Load Despatch Centre, Shimla , (PAN-AAAAH7757E), a body established by the Government of Himachal Pradesh, in respect of the following specified income arising to that body, namely: a) Income from levy of fees/charges as per Electricity Act, 2003 and as fixed by Himachal Pradesh Electricity Regulatory Commission, and b) Interest on bank deposits. 2. This notification shall be effective subject to the conditions that Himachal Pradesh State Load Despatch Centre - (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 be applicable for Assessment years 2021-2022, 2022-2023 and 2023-2024 relevant to Financial years 2020-2021, 2021-2022 and 2022-2023. [F.No.196/20/2021-ITA-I] VIKAS SINGH, Director (ITA-I) Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.