notification no.78/2014 f. no. 196/22/2014 ita.i / so 3172 e section 10 46 of the income tax act 1961 exemptions statutory body/authority/board/commission notified body or authority karnataka electricity regulatory commission

2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th December, 2014 S.O. 3172(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, “Karnataka Electricity Regulatory Commission, a Commission constituted by the Government of Karnataka in respect of the following specified income arising to that Commission, namely:— (a) amount received in the form of grants and loans from the Government of Karnataka; (b) statutory fees; (c) interest earned from investment 2. This notification shall be applicable for the financial years 2014-2015 to 2018-2019. 3. The notification shall be subject to the conditions that Karnataka Electricity Regulatory Commission:— (a) shall not engage in any commercial activity; (b) its activities and the nature of the specified income remain unchanged throughout the financial year; and (c) it files return of income in accordance with the provision of clause (g) of sub-section (4C) Section 139 of the said Act. [Notification No.78/2014/F. No. 196/22/2014-ITA.I] DEEPSHIKHA SHARMA, Director Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.