[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3
Notification No. 116/2026 [F. No.195/13/2025-ITA-I] / SO 4706(E) : Notification in the case of Maharashtra Electricity Regulatory Commission was published on 25 August 2026. Its subject is [भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3.
This grants an exemption or a relief under a provision that allows one. Read the conditions attached: an exemption notification is construed strictly, and a condition missed is the exemption lost.
The Central Government notifies the Maharashtra Electricity Regulatory Commission (PAN AAAGM0004R), a Commission constituted under the Electricity Regulatory Commissions Act, 1998, for the purposes of section 10(46A) of the Income-tax Act, 1961. Section 10(46A) exempts the specified income of notified bodies, authorities, Boards, Trusts and Commissions that are not companies. The notification is made in pursuance of section 536(2)(a) to (c) and (e) of the Income-tax Act, 2025, which saves the operation of the repealed 1961 Act for proceedings and tax years beginning before 1 April 2026.
The 1961 Act stands repealed by section 536(1) of the Income-tax Act, 2025, and the savings in section 536(2) require notifications for pre-2026 tax years to continue to be made under the 1961 Act.
[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 25th August, 2026
S.O. 4706(E).— Whereas, section 10 (46A) of the Income-tax Act, 1961 (43 of 1961) provided for exemption of specified income of certain bodies or authorities or Boards or Trusts or Commissions, not being a company as may be notified by the Central Government in the Official Gazette for the purposes of that section;
And whereas, the Income-tax Act, 1961 (43 of 1961) was repealed by section 536(1) of the Income-tax Act, 2025 (30 of 2025);
And whereas, section 536(2)(a) and (b) of the Income-tax Act, 2025 (30 of 2025), inter alia, provides that irrespective of the repeal of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Act of 1961) and subject to sub-section (4) thereof, nothing shall affect-
(i) the previous operation of the provisions of the Act of 1961 and any order or anything duly done or suffered thereunder; or
(ii) any right, privilege, obligation or liability acquired, accrued or incurred under the Act of 1961 or orders under that Act;
And whereas, section 536(2)(c) of the Income-tax Act, 2025 (30 of 2025) provides that the provisions of the Act of 1961 shall continue to apply to any proceeding pending on the date of commencement of the Income-tax Act, 2025 (30 of 2025) and to any proceedings initiated on or after the 1st April, 2026 (including notices, assessment, reassessment, recomputation, rectification, penalty, reference, revision and appeals) in respect of any tax year beginning before the 1st April, 2026 and such proceedings shall be carried out as per the procedure specified in the Act of 1961;
And whereas, section 536(2)(e) of the Income-tax Act, 2025 (30 of 2025) provides that any proceeding pending on the date of its commencement before any income-tax authority or any other authority constituted under the repealed Income-tax Act, Appellate Tribunal, or any court, by way of application, appeal, reference or revision or by any other means, shall be continued and disposed of as if this Act had not been enacted;
Now, therefore, in pursuance of the provisions of section 536(2)(a) to (c) and (e) of the Income-tax Act, 2025 (30 of 2025), the Central Government hereby notifies, for the purposes of section 10 (46A) of the Income-tax Act, 1961, "Maharashtra Electricity Regulatory Commission" (PAN: AAAGM0004R), a Commission constituted under the Electricity Regulatory Commissions Act, 1998 (No. 14 of 1998).
This notification shall be effective for the assessment year 2026-27 relevant to the financial year 2025-26, subject to the condition that the assessee continues to be a Commission constituted under the Electricity Regulatory Commissions Act, 1998 (No. 14 of 1998) with one or more of the purposes specified in section 10 (46A) of the Incometax Act, 1961.
[Notification No. 116 /2026/F. No.195/13/2025-ITA-I]
HARDEV SINGH, Under Secy.
Explanatory Memorandum
It is certified that the interests of no person are being adversely affected by giving retrospective effect [with effect from the year of application filed before the Board or Income tax Department] to this notification.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
assessment year 2026-27 relevant to financial year 2025-26, retrospectively.
In the Commission's return of income and in the assessment for assessment year 2026-27, where the specified income is claimed as exempt under section 10(46A).
← Notification No. 117/2026 [F. No. 195/13/2025-ITA-I] / SO 4707(E) : Notification in the case of Maharashtra Electricity Regulatory Commission · Notification No. 115 →
Source: the Income Tax Department’s own published text — its page for this instrument.
