Income Tax Act, 1967.
Computation of profits. |
384.—In computing the amount of the profits for the purpose of assessment to income tax the working of the mine shall be treated as a separate trade set up or commenced on the commencement day and any corporation profits tax which, by virtue of section 6 of the Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956 , is not payable, shall be deemed to have been paid. |