State Act
Section 106. Loss of income from tax due to exemption to be reimbursed by Government.
The Maharashtra Municipal Councils, Nagar Panchayats and Industrial Townships Act, 1965.
106. Loss of income from tax due to exemption to be reimbursed by Government.— If under any special or general order issued under sub-section (1) of the last preceding section, the State 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 State Government may under appropriation duly made by law in this behalf, annually reimburse to the Council concerned and amount approximately equal to the loss that the Council there incurs. The decision of the State 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.