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The Finance Order, 1972 (President's Order)


Withdrawal of exemption of unexpired period of Tax holiday under the Income Tax Act, 1922 (XI of 1922)
11. Notwithstanding any exemption from payment of income-tax and super-tax granted to or any rights or privileges acquired by an industrial undertaking under section 15BB, since omitted under this Order, of the Income Tax Act, 1922 (XI of 1922), as respects any income, profits and gains of any previous year ending on any day after the thirtieth day of June, 1971 and of any previous year thereafter, such exemption, rights or privileges shall stand withdrawn or cancelled, as the case may be.

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