Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory Body/Authority/Board/Commission - Notified body or authority - Competition Commission of India. - 12/2012 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification no. 12/2012 DATED 28-2-2012 S.O, 344(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, the Competition Commission of India, a Commission established under sub-section (1) of section 7 of the Competition Act, 2002 (Act 12 of 2003) , in respect of the specified income arising to the said Commission, as follows:- ( a ) amount received in the form of Government grants; ( b ) fee received under the Competition Act, 2002 ; and ( c ) interest income accrued on Government grants and interest accrued on fee received under the Competition Act, 2002 . 2. This Notification shall be applicable for the specified income of the Competition Commission of India for the financial year 2011-12 to financial year 2015-16. 3. The Notification shall be effective where- ( i ) the activities and the nature of the specified income of the Competition Commission of India remain unchanged throughout the financial year, and ( ii ) the Competition Commission of India files return of income in accordance with clause ( g ) of sub-section (4C) section 139 of the Act. [F.NO.142/15/2011-SO (TPL)] VIVEK ANAND OJHA, Under Secy.