the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Uttar Pradesh Electricity Regulatory Commission’, Lucknow, a commission constituted under the Uttar Pradesh Electricity Reforms Act, 1999 (UP Act No.24 of 1999

MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
( CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 14th September, 2018

 

S.O. 4858(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, ‘Uttar Pradesh Electricity Regulatory Commission’, Lucknow, a commission constituted under the Uttar Pradesh Electricity Reforms Act, 1999(UP Act No.24 of 1999), in respect of the following specified income arising to the saidCommission, namely:–

(a) amount received in the form of Government grants;

(b) amount received as licence fees & fines; and

(c) interest on Government grants, licence fees & fines.

2. This notification shall be effective subject to the conditions that Uttar Pradesh Electricity Regulatory
Commission, Lucknow,-

(a) shall not engage in any commercial activity;

(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.