Loss of income from tax due to exemption to be reimbursed by the Government

Loss of income from tax due to exemption to be reimbursed by the Government. If under any special or general order issued under sub-section (1) of the last preceding section, the Government grants exemption in respect of any class of property or persons from levy of the taxes specified in sub-sections (1) and (2) of that section, the Government may under appropriation duly made by law in this behalf, annually reimburse to the Council concerned, an amount approximately equal to the loss that the Council thereby incurs. The decision of the Government regarding— (i) the mode of assessing the loss; and (ii) the amount of loss incurred by each Council concerned each year, shall be final.