Exemption from specified income U/s 10(46A) of IT Act 1961 - “Moradabad Development Authority” - 121/2025 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 121/2025 New Delhi, the 22nd July, 2025 S.O. 3362(E). In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961 (43 of 1961) , (hereinafter referred to as the Income-tax Act ), the Central Government hereby notifies the Moradabad Development Authority (PAN: AAJFM7731M) (hereinafter referred to as the assessee ), an authority constituted under the Uttar Pradesh Urban Planning Development Act, 1973 (President s Act No. 11 of 1973), for the purposes of the said clause. 2. This notification shall be effective from the assessment year 2024-2025, subject to the condition that the assessee continues to be an authority constituted under the Uttar Pradesh Urban Planning Development Act, 1973 (President s Act No. 11 of 1973) with one or more of the purposes specified in sub-clause (a) of clause (46A) of section 10 of the Income-tax Act. [F. No. 300195/46/2024-ITA-I] MEENAKSHI SINGH, Dy. Secy. Explanatory Memorandum It is certified that no person is being adversely affected by giving retrospective effect to this notification.