Finance Act, 1939

Assessment of certain profits derived from the keeping of a stallion.

7.—Where a person who is the occupier of land in respect of the occupation of which he is assessed under Schedule B of the Income Tax Act, 1918, is also the owner or part owner of a stallion which is ordinarily kept on such land, profits derived by such person from fees received or receivable for the service by such stallion on such land of mares owned by other persons shall be deemed, for the purposes of the Income Tax Acts, to arise from the occupation of such land.