Central Government notifies ‘Karnataka Electricity Regulatory Commission’ a commission established by the Government of Karnataka, in respect of the specified income arising to that Commission - 49/2019 - Income Tax Act, 1961
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Tax exemption under Section 10(46) - specified regulatory commission income exempted subject to non commerciality and filing rules. Notification under Section 10(46) designates Karnataka Electricity Regulatory Commission, Bengaluru as a notified commission for specified income: grants from the State Government; annual fees; tariff application fees; power purchase agreement processing fees; fines and penalties (if levied); miscellaneous receipts such as copying charges, sale of tariff orders and regulations, RTI fees; and interest on those receipts. The notification applies for assessment years 2020-2021 to 2024-2025 and is conditional on no commercial activity, unchanged nature of activities and income, and filing returns per clause (g) of sub section (4C) of section 139.
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 Section 10(46) - specified regulatory commission income exempted subject to non commerciality and filing rules.
Notification under Section 10(46) designates Karnataka Electricity Regulatory Commission, Bengaluru as a notified commission for specified income: grants from the State Government; annual fees; tariff application fees; power purchase agreement processing fees; fines and penalties (if levied); miscellaneous receipts such as copying charges, sale of tariff orders and regulations, RTI fees; and interest on those receipts. The notification applies for assessment years 2020-2021 to 2024-2025 and is conditional on no commercial activity, unchanged nature of activities and income, and filing returns per clause (g) of sub section (4C) of section 139.
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