law: The Small Industries Development Bank of India Act, 1989 
  50. Act 43 of 1961 not to
  
  apply to Small Industries Bank 
  Notwithstanding anything to the contrary
  
  contained in the Income-tax Act.1961 or any other enactment for the time being
  
  in force relating to income-tax or any other tax on income, profits or gains, the
  
  Small Industries Bank shall not be liable to pay income-tax or any other tax in
  
  respect of-
  a.     
  
    Any
  
  income, profits or gains accruing or arising to the Small Industries
  
  Development Assistance Fund or any amount received in that Fund; and
  b.    
  
    Any
  
  income, profits or gains derived or any amount received by the Small Industries
  
  Bank.