Income Tax Exemption Notification for State Load Despatch Centre Unscheduled Interchange Fund West Bengal

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 2nd March, 2016 No. 12/2016 S.O. 639(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, the State Load Despatch Centre Unscheduled Interchange Fund–West Bengal State Electricity Transmission Company Limited (PAN AAIAS0980J), a trust constituted under the Electricity Act, 2003 (36 of 2003) in respect of the following specified income arising to that trust, namely :-

• (a) residual money in the unscheduled interchange pool balance account;
• (b) interest on fixed deposits and auto-sweep accounts; and
• (c) income incidental to or related to unscheduled interchange.

2. The notification shall be subject to the following conditions, namely that the State Load Despatch Centre Unscheduled Interchange Fund – West Bengal State Electricity Transmission Company Limited,-

• (a) shall not engage in any commercial activity;
• (b) shall not change its 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) section 139 of the said Act.

3. This notification shall be deemed to be applicable for the financial years 2012-2013, 2013-2014, 2014- 2015 and applicable for the financial years 2015-2016 and 2016-2017. [F. No. 196/51/2012-ITA.I] DEEPSHIKHA SHARMA, Director