(a)if a drawback of the property tax is sanctioned in respect of such building or land under section 158 of the [Bombay Municipal Corporation Act] [These words were substituted for the words and figures 'City of Bombay Municipal Act, 1888' by Bombay 17 of 1945, section 9, read with Bombay 8 of 1950.] on or after Is' October 1939 (Bombay Ill of 1888), or