Section 34. Exemption from tax on wealth, income, profits and gains

34. Exemption from tax on wealth, income, profits and gains. —Notwithstanding anything contained in- (i) the Wealth-tax Act, 1957 (27 of 1957); (ii) the Income-tax Act, 1961(43 of 1961); or (iii) any other enactment for the time being in force relating to tax on wealth, income, profits or gains, the Authority shall not be liable to pay wealth-tax, income-tax or any other tax in respect of its wealth, income, profits or gains derived.