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(1) Notwithstanding anything contained
in the Income-tax Act, 1961 (43 of 1961) or any other enactment for the time being in force relating to tax
on income, profits or gains, no income-tax or any other tax shall be payable by the Administrator in
relation to the specified undertaking 1[for the period beginning on the appointed day and ending on the
2[31st day of March, 3[2027]] in respect of any income, profits or gains derived, or any amount received in
relation to the specified undertaking.
(2) The transfer and vesting of the undertaking or the specified undertaking in terms of section 4 shall
not be construed as a transfer within the meaning of the Income-tax Act, 1961 (43 of 1961) for the
purposes of capital gains.
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1. Subs. by Act 18 of 2008, s. 123, for "for a period of five years computed from the appointed day" (w.e.f. 1-2-2008).
2. Subs. by Act 23 of 2019, s. 190, for "the 31st day of March, 2019" (w.e.f. 1-4-2019).