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Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils
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....sfied that it is necessary or expedient so to do in the public interest, it may, by notification in the Official Gazette, make an exemption, reduction in rate or other modification in respect of income-tax in favour of any class of persons specified in sub-section (2) or in regard to the whole or any part of the income of such class of persons ^2[or in regard to the status in which such class of p....
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.... or hire) in connection with any business consisting of the prospecting for or extraction or production of mineral oils carried on by that Government or any person specified by that Government in this behalf by notification in the Official Gazette; and (c) employees of the persons referred to in clause (a) or clause (b). (3) Every notification issued under this section shall be la....