CBDT notifies exemption u/s 10(46) to Assam Electricity Regulatory Commission

The Central Board of Direct Taxes (CBDT) vide its Notification No 30/2022 [S.O. 1769(E)] dated 11th April 2022 notifies the exemption under clause (46) of section 10 of the Income-tax Act, 1961 to the Rajasthan Electricity Regulatory Commission having PAN AAABR0296D, a Commission constituted by the state Government of Rajasthan.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 11th April, 2022

S.O. 1769(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, ‘Rajasthan Electricity Regulatory Commission’ (PAN AAABR0296D), a Commission constituted by the state Government of Rajasthan, in respect of the following specified income arising to that Commission, namely: –

(a) Petition filing fees;

(b) Licence fees; and

(c) Interest earned on investment.

2. This notification shall be effective subject to the conditions that Rajasthan 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 period from 01.06.2020 to 31.03.2021 for the financial year 2020-2021 and 2021-2022 and shall apply with respect to the financial years 2022-2023, 2023-2024 and 2024-2025.

[Notification No. 30/2022/F.No.300196/27/2016-ITA-I (Pt.-1)]
SOURABH JAIN, Under Secy.

Explanatory Memorandum

It is certified that no person is being adversely affected by giving retrospective effect to this notification.