Exemption from specified income for a public water board, subject to non-commerciality and statutory return-filing requirements. Notification grants exemption under clause (46) of section 10 for specified receipts of a public water supply and sewerage board, including government grants, prescribed centage, government-fixed water charges, pension and gratuity contributions, ancillary receipts (investigation, hire, tender schedule sales, rent) and interest on bank deposits. The exemption is conditional on absence of commercial activity,unchanged nature of activities and incomes across financial years, and compliance with the return-filing requirement; it applies retrospectively to certain assessment years and prospectively to a defined set of subsequent 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.
Exemption from specified income for a public water board, subject to non-commerciality and statutory return-filing requirements.
Notification grants exemption under clause (46) of section 10 for specified receipts of a public water supply and sewerage board, including government grants, prescribed centage, government-fixed water charges, pension and gratuity contributions, ancillary receipts (investigation, hire, tender schedule sales, rent) and interest on bank deposits. The exemption is conditional on absence of commercial activity,unchanged nature of activities and incomes across financial years, and compliance with the return-filing requirement; it applies retrospectively to certain assessment years and prospectively to a defined set of subsequent assessment years.
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