CBDT notifies ‘H P Electricity Regulatory Commission’ under Section 10(46) vide Notification No. 116/2022-Income Tax | Dated: 19th October, 2022.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi
Notification No. 116/2022-Income Tax | Dated: 19th October, 2022
S.O. 4944(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, ‘H P Electricity Regulatory Commission’ (PAN AAAJH0378N), a Commission constituted by the Government of Himachal Pradesh, in respect of the following specified income arising to that Commission, namely:
(a) amount received in the form of Government grants;
(b) amount received as license fee from licensees in electricity;
(c) amount received as Court fee or petition fee; and
(d) interest earned on investments made out of (a) to (c) above.
2. This notification shall be effective subject to the conditions that H P 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 applicable with respect to the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026 and 2026-2027.
[Notification No. 116/2022/F. No. 300196/33/2021-ITA-I]
SOURABH JAIN, Under Secy.
