MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 28th April, 2017
S.O. 1359(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, the Odisha Electricity Regulatory Commission, a commission constituted by the State Government of Odisha, in respect of the following specified income arising to that Commission, namely:—
(a) amount received as Licence fee from the Licensees; and
(b) amount received as application processing fee.
2. The provisions of this notification shall be effective subject to the conditions that Odisha 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 returns 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 applied for the financial years 2017-2018, 2018-2019, 2019-2020 and 2020-2021.
[Notification No. 35 /2017/ F. No. 300196/24/2016-ITA-I]
DEEPSHIKHA SHARMA, Director