Finance (Profits of Certain Mines) (Temporary Relief From Taxation) Act, 1956

Computation of profits for purpose of assessment to income tax.

3.—In computing the amount of the profits for the purpose of assessment to income tax—

(a) the working of the mine shall be treated as a separate trade set up or commenced on the commencement day, and

(b) any corporation profits tax which, by virtue of section 6 of this Act, is not payable, shall be deemed to have been paid.