Tax exemption under clause 10(46) permits institutional income relief subject to non commercial and filing conditions. A notification exempts specified institutional receipts - government grants, licence fees from electricity licensees, court or petition fees, and interest on such receipts - of a state electricity regulatory commission from income taxation, subject to conditions: no engagement in commercial activity, unchanged nature of activities and specified income throughout the financial year, and filing the return of income as prescribed by the Act. The exemption applies retrospectively to the prior financial year and to specified subsequent financial years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption under clause 10(46) permits institutional income relief subject to non commercial and filing conditions.
A notification exempts specified institutional receipts - government grants, licence fees from electricity licensees, court or petition fees, and interest on such receipts - of a state electricity regulatory commission from income taxation, subject to conditions: no engagement in commercial activity, unchanged nature of activities and specified income throughout the financial year, and filing the return of income as prescribed by the Act. The exemption applies retrospectively to the prior financial year and to specified subsequent financial years.
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