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 SECTION 10(46) OF THE INCOME-TAX ACT, 1961 - EXEMPTIONS - STATUTORY BODY/AUTHORITY/BOARD/COMMISSION - NOTIFIED BODY OR AUTHORITY - HARYANA ELECTRICITY REGULATORY COMMISSION

NOTIFICATION NO. 35/2015 [F.NO.196/48/2012-ITA.1]/SO 992(E), DATED 10-4-2015

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 'Haryana Electricity Regulatory Commission', a Commission constituted under the Haryana Electricity Reform Act, 1997 (Haryana Act No.10 of 1998), in respect of the following specified income arising to that body, namely:—

(a)   grants and loans made by the Government of Haryana;
(b)   fees received under the Electricity Act, 2003 (36 of 2003);
(c)   interest earned on government grants and loans and fees received under the Electricity Act, 2003 (36 of 2003).

2. The notification shall be subject to the conditions that the Haryana Electricity Regulatory Commission:—

(a)   shall not engage in any commercial activity;
(b)   its activities and the nature of the specified income remain unchanged throughout the financial years; and
(c)   it files return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the said Act.

3. This notification shall be applicable for the Financial Years 2012-13 to 2016-17.