Tax exemption for infrastructure authority: specified grants, fees and bank interest exempt subject to non commercial and filing conditions. Notification under clause (46) of section 10 notifies Punjab Infrastructure Regulatory Authority as entitled to exemption for specified incomes: grants from State Government, sums from other sources including arbitration fees fixed under Authority regulations, and bank interest. The exemption is subject to conditions: no engagement in commercial activity, unchanged activities and income nature across the relevant financial years, and filing of income tax return as required by clause (g) of sub-section (4C) of section 139. The notification is applied retrospectively to the stated assessment 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 for infrastructure authority: specified grants, fees and bank interest exempt subject to non commercial and filing conditions.
Notification under clause (46) of section 10 notifies Punjab Infrastructure Regulatory Authority as entitled to exemption for specified incomes: grants from State Government, sums from other sources including arbitration fees fixed under Authority regulations, and bank interest. The exemption is subject to conditions: no engagement in commercial activity, unchanged activities and income nature across the relevant financial years, and filing of income tax return as required by clause (g) of sub-section (4C) of section 139. The notification is applied retrospectively to the stated assessment years.
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