Tax Exemption on Specified Income of "Visakhapatnam Special Economic Zone Authority" U/s 10(46) of Income-tax Act, 1961

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....(E).- In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, 'Visakhapatnam Special Economic Zone Authority' (PAN:AAALV1367K) an authority constituted by the Central Government, in respect of the following specified income arising to that council, namely:- (a) Le....

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.... (b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and (c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961. 3. Failure to comply with these conditions may result in the initiation of penal actions under the provisions of the Income-tax ....