10. The following new section is hereby inserted immediately after section 17G of the principal enactment and shall have effect as section 17H of that enactment
| 17H.
| | (1) The profits and income, with the meaning of paragraph (a) of section (other than any profits and income from the sale of capital assets) of any undertaking referred to in subsection (2), from the exhibition of any cinematograph film in any new or rehabilitated cinema referred to in subsection (2), shall be exempt from income tax for a period of three years reckoned from the date on which the business of the exhibition of cinematograph films in such cinema commences. | | |
| | (2) The provisions of subsection (1) shall apply to any undertaking which"
| | | (a) commences before April 1, 1994, the business of exhibiting cinematograph films in a cinema"
|
|
|
|
|
Sri Lanka Consolidated Acts