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Section37
The Finance Act, 1977

Amendment of Act 47 of 1974

In force Act 11 of 1977 As on 05 Oct 2026

Act 11 of 1977 Ministry Finance Enacted 06 Aug 1977 Cited by 2 provisions

Section 37 of the Finance Act, 1977 deals with amendment of Act 47 of 1974. Amendment of Act 47 of 1974 37. In the Oil Industry (Development) Act, 1974, in Chapter V, be fore section 23, the following section shall be inserted and shall be deem ed always to have been inserted, namely:— Exemption from liability to pay income-tax "22A. The Act was enacted on 06 Aug 1977.

Amendment of Act 47 of 1974

37. In the Oil Industry (Development) Act, 1974, in Chapter V, be fore section 23, the following section shall be inserted and shall be deem ed always to have been inserted, namely:—

Exemption from liability to pay income-tax

"22A. Notwithstanding anything contained in the Income-tax Act, 1961 (43 of 1961), the Board shall not be liable to pay any income-tax on its income, profits or gains.".

[Finance (No.

2) Act, 1977]

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Section 37, The Finance Act, 1977 (Act 11 of 1977).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 23 Amendment of section 155

Referred to by 2

  1. s. First Schedule First Schedule
  2. s. Fifth Schedule Fifth Schedule

Questions about Section 37

What does Section 37 of the Finance Act deal with?

Section 37 of the Finance Act is headed "Amendment of Act 47 of 1974". Amendment of Act 47 of 1974 37. In the Oil Industry (Development) Act, 1974, in Chapter V, be fore section 23, the following section shall be inserted and shall be deem ed always to have been inserted, namely:— Exemption from liability to pay income-tax "22A.

How do I find court cases under Section 37 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1977 37, section 37 Finance Act 1977, section 37 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 37 of the Finance Act, and has it changed?

Its own text turns on section 23 (Amendment of section 155), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was Section 37 of the Finance Act enacted?

Section 37 of the Finance Act, cited as Finance Act 1977 37, was enacted on 06 Aug 1977 as Act 11 of 1977. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.