(1) In this section -
"occupation", in relation to any land, means having the use of that land;
"woodlands" means woodlands in the State.
(2) Except where otherwise provided by section 75, the profits or gains arising from the occupation of woodlands managed on a commercial basis and with a view to the realisation of profits shall be exempt from income tax and corporation tax.
(3) As respects the making of a return of income (being a return which a chargeable person, within the meaning of Part 41A, is required to deliver under Chapter 3 of that Part), the Tax Acts shall apply -
(a) as if subsection (2) had not been enacted,
(b) notwithstanding anything to the contrary in Part 41A, as if a person to whom profits or gains referred to in subsection (2) arise for any chargeable period (within the meaning of section 321(2)) were, if such person would not otherwise be, a chargeable person (within the meaning of Part 41A) for that chargeable period,
(c) where a person to whom profits or gains
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