MINISTRY OF FINANCE

(Department of Revenue)

CENTRAL BOARD OF DIRECT TAXES

NOTIFICATION NO. 72/2016

New Delhi, the 17th August, 2016

S.O. 2727(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, Tamil Nadu Electricity Regulatory Commission, a body constituted by Government of Tamil Nadu, in respect of the following specified income arising to that Commission, namely:-

(a) amount received in the form of government grants;

(b) fees levied under clause (g) of sub-section (1) of Section 86 read with Section 181 of the Electricity Act, 2003;

(c) penalties levied u/s 146 of the Electricity Act, 2003;

(d) interest income earned on government grants; and

(e) interest income earned on fee/revenue received under the Electricity Act, 2003.

2. This notification shall be effective subject to the conditions that Tamil Nadu Electricity Regulatory Commission,-

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income 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) section 139 of the Income-tax Act, 1961.

3. This notification shall be deemed to have been apply for the period 01.06.2011 to 31.03.2012 and financial years 2012-13, 2013-14, 2014-15 and 2015-16.

[F.No.196/3/2012-ITA-I]

DEEPSHIKHA SHARMA, Director

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