NOTIFICATION No. 78/2014
Dated- 12th December, 2014
S.O. 3172(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, a Commission constituted by the Government of Karnataka in respect of the following specified income arising to that Commission, namely:-
(a) amount received in the form of grants and loans from the Government of Karnataka;
(b) statutory fees;
(c) interest earned from investment
2. This notification shall be applicable for the financial years 2014-2015 to 2018-2019.
3. The notification shall be subject to the conditions that Karnataka 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 year; and
(c) it files return of income in accordance with the provision of clause (g) of sub-section (4C) section 139 of the said Act.
[ F.No. 196/22/2014-ITA.I]
(Deepshikha Sharma) Director to the Govt. of India