For the purpose of section 36(1)(xii) the C.G. notified the Oil Industry Development Board for the development of Oil Industry

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.... powers conferred by clause (xii) of sub-section (1) of Section 36 of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Oil Industry Development Board established under Section 3 of the Oil Industry (Development) Act, 1974 (47 of 1974) for the development of Oil Industry, subject to the following conditions, namely :- (i) the ex....