CBDT notifies ‘Andhra Pradesh Electricity Regulatory Commission’ under clause (46) of section 10 of the Income-tax Act, 1961

CBDT notifies ‘Andhra Pradesh Electricity Regulatory Commission’ under clause (46) of section 10 of the Income-tax Act, 1961 vide Notification No. 24/2019 Dated 19th March, 2019 – IT

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 24/2019
New Delhi, the 19th March, 2019

S.O. 1397(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, ‘Andhra Pradesh Electricity Regulatory Commission’, Hyderabad, a Commission constituted under the Andhra Pradesh Electricity Reforms Act, 1998 (Government of Andhra Pradesh Act 30 of 1998), in respect of the following specified income arising to that Commission, namely:

(a) Licence fee received under the Electricity Act, 2003;
(b) Grants-in-Aid received from Government; and
(c) Interest earned on (a) & (b) above.

2. This notification shall be effective subject to the conditions that Andhra Pradesh Electricity Regulatory Commission, Hyderabad,‑

(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 apply with respect to the assessment year 2019-2020, 2020-2021, 2021-2022, 2022-2023 and 2023-2024.

[Notification No. 24/2019/F. No. 300196/73/2018-ITA-I]
RAJARAJESWARI R., Under Secy.

Income Tax Notification No. 24/2019 PDF Format – Download Here