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Exemption of certain profits of agricultural societies.
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4.—(1) Any profits or gains arising to an agricultural society from an exhibition or show held for the purposes of the society shall, if they are applied solely to the purposes of the society, be exempt from income tax.
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(2) The expression “agricultural society” in this section means any society or institution established for the purpose of promoting the interests of agriculture, horticulture, live-stock breeding, or forestry.
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