Tax exemption for regulatory board: specified grants, fees and interest exempt subject to non-commercial operation and filing conditions. Central Government notifies Petroleum and Natural Gas Regulatory Board under clause (46) of section 10 of the Income-tax Act in respect of specified income comprising Central Government grants, other grants, fees and penalty charges, sums approved under sections 38 and 39 of the PNGRB Act, 2006, and interest on deposits. The notification applies for the stated assessment years and is subject to conditions that the Board shall not engage in commercial activity, its activities and the nature of specified income remain unchanged during the financial year, and it files its return of income as required by clause (g) of sub section (4C) of section 139.