The Central Board of Direct Taxes (CBDT) has notified West Bengal Electricity Regulatory Commission eligible for Section 10(46) Income Tax Exemption.
The Board empowered under clause (46) of section 10 of the Income-tax Act, 1961 notified for the purposes of the said clause, ‘West Bengal Electricity Regulatory Commission’, Kolkata , a Commission constituted by the State Government of West Bengal.
West Bengal Electricity Regulatory Commission is eligible for Income Tax Exemption in respect of the specified income arising to that Commission, namely Income from the fund maintained in accordance with the provisions of the West Bengal Electricity Regulatory Commission (Manner of application of Fund) Rules, 2006; and Income from the fees collected in accordance with the provisions of the West Bengal Electricity (fees for application for grant of license) Rules, 2005, notified by the Government of West Bengal.
This notification shall be effective subject to the conditions that West Bengal Electricity Regulatory Commission, Kolkata 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; shall not engage in any commercial activity; activities and the nature of the specified income shall remain unchanged throughout the financial years.
NOTIFICATION NO: 11/2022/F
DATE: 27th January, 2022
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