Section 8(1) in The Taxation Laws (Amendment And Miscellaneous Provisions) Act, 1965
(1)Where a person who hag acquired any gold out of his income which has not been disclosed by him, for the purposes of the 192. Indian income- tax Act, 1922 , (11 of 1922 ) or the Income- tax Act, 1961 , (43 of 1961 ) or the Excess Profits Tax Act, 1940 , (15 of 1940 ) or the Business Profits Tax Act, 1947 , (21 of 1947 ) or the Super Profits Tax Act, 1963 , (14 of 1963 ) or the Companies (Profits) Surtax 193 Act, 1964 , (7 of 1964 ). tenders such gold as subscription for the National Defence Gold Bonds, 1980 , prior to the detection of such income by the Income- tax Officer or the seizure of such gold under any law for the time being in force, such income shall, notwithstanding anything contained in the said Acts, not be included in his income, profits or gains Chargeable to tax under the said Acts in an assessment or reassessment for any assessment. year made under the said Acts on or after the 20th day of October, 1965 .
