MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION NO. 28/2019

New Delhi, the 26th March, 2019

S.O. 1425(E).-In supersession of Gazette Notification No.1359(E) dated 28.04.2017, the Central Government in exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), hereby notifies for the purposes of the said clause, ‘Odisha Electricity Regulatory Commission’, Bhubaneswar, a commission established by the State Government of Odisha, in respect of the following specified income arising to that commission, namely:-

(a) Amount received in the form of Government grants;
(b) Amount received as Licence fee from the licensees;
(c) Amount received as application processing fee; and
(d) Interest earned on (a) to (c) above.
2. This notification shall be effective subject to the conditions that Odisha Electricity Regulatory Commission, Bhubaneswar,-

(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.

3. This notification shall be deemed to have been applied for the assessment years 2018-2019 and shall apply with respect to the assessment years 2019-2020, 2020-2021 and 2021-2022.

[F. No. 300196/24/2016-ITA-I]