MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 30th August, 2017
S. O. 2829(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, ‘Gujarat Electricity Regulatory Commission’, a Commission constituted under the Electricity Regulatory Commissions Act, 1998 , in respect of the following specified income arising to that Commission, namely:-
(a) amounts received in form of grants and aid from Government;
(b) amount received in the form of petition fees or processing fee for determination of tariff;
(c) amount received in the form of License fees; Application fees or in nature of fines;
(d) interest earned on investment or deposit or Saving/Current Bank Accounts;
(e) fees for documents;
(f) penalty or interest for delayed payment of Annual License fees; and
(g) fees for RTI.
2. This notification shall be effective subject to the conditions that Gujarat 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 said Act.
3. This notification shall be deemed to have been applied for the financial year 2016-2017 and shall apply with respect to financial years 2017-2018, 2018-2019, 2019-2020 and 2020-2021.
[Notification No. 84 /2017/F. No. 300196/8/2017-ITA-I]
DEEPSHIKHA SHARMA, Director
Explanatory Memorandum.—It is certified that no person is being adversely affected by giving retrospective effect to this notification