(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 27th June, 2019
S.O.2163(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, ‘Karnataka Electricity Regulatory Commission’, Bengaluru (PAN AAAGK0112L), a commission established by the Government of Karnataka, in respect of the following specified income arising to that Commission, namely:-
- Grant by Government of Karnataka;
- Annual Fees;
- Tariff Application Fees;
- Power Purchase Agreement processing fees;
- Fines and Penalties (if levied);
- Miscellaneous receipts like copying charges of various documents sale of retail tariff orders sale of regulations, RTI application fees etc.; and
- Interest earned on (a) to (f) above.
- This notification shall be effective subject to the conditions that Karnataka Electricity Regulatory Commission, Bengaluru –
- shall not engage in any commercial activity;
- activities and the nature of the specified income shall remain unchanged throughout the financial years; and
- 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.
- This notification shall apply with respect to the assessment year 2020-2021, 2021-2022, 2022-2023, 2023-2024 and 2024-2025.
RAJARAJESWARI R., Under Secy.