CBDT Tax Exemption Notification for Maharashtra Electricity Regulatory Commission: Detailed Overview

The Central Board of Direct Taxes (CBDT) has issued a significant notification granting income-tax related benefits to the Maharashtra Electricity Regulatory Commission by bringing it within the ambit of Schedule VII [Table: Sl. No. 42] read with section 11 of the Income-tax Act, 2025. This move formally recognizes the Commission as an eligible assessee for exemption under the specified provisions, subject to defined conditions.

This article provides a structured analysis of the notification, its legal basis, operative period, and practical implications for compliance and administration.

Statutory Backdrop of the Notification

The Central Government has exercised its powers under:

  • Schedule VII [Table: Sl. No. 42] of the Income-tax Act, 2025 (30 of 2025)
  • Read together with section 11 of the same Act

These provisions collectively empower the Government to notify specified institutions, bodies or authorities for the purpose of granting exemption to income applied towards eligible purposes, as prescribed in Schedule VII.

Key Point: The notification does not create a new exemption category; it brings a specific Commission within an existing framework of exemption under section 11 read with Schedule VII.

Identity and Constitution of the Notified Entity

The notification identifies the assessee as:

  • Name: Maharashtra Electricity Regulatory Commission
  • PAN: AAAGM0004R
  • Constitution: A Commission established under the Electricity Regulatory Commissions Act, 1998 (No. 14 of 1998)

The legal status of the Commission as a statutory regulatory authority is central to its eligibility under Schedule VII [Table: Sl. No. 42] and to the continuity of the exemption benefit.

CBDT Notification – Core Contents

Notification Particulars

The relevant details as per the CBDT communication are:

  • Notification Number: Notification No. 117/2026-Income Tax
  • S.O. Number: S.O. 4707(E)
  • Date of Issue: 25 August 2026
  • Issuing Authority: MINISTRY OF FINANCE, Department of Revenue, CENTRAL BOARD OF DIRECT TAXES
  • Reference File Number: Notification No. 117/2026/F. No. 195/13/2025-ITA-I
  • Signatory: HARDEV SINGH, Under Secy.

The notification explicitly states that the Maharashtra Electricity Regulatory Commission (PAN: AAAGM0004R) is notified for the purposes of Schedule VII [Table: Sl. No. 42] read with section 11 of the Income-tax Act, 2025, hereinafter referred to as the “Income-tax Act”.

Purpose of Notification

By virtue of this notification:

  • The Commission is recognized as an assessee eligible for benefits under Schedule VII [Table: Sl. No. 42]
  • The recognition operates specifically for the purposes of that serial number in Schedule VII
  • The notification enables income applied towards one or more purposes listed in that entry of Schedule VII to qualify for exemption under section 11, subject to fulfilment of statutory conditions