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<h1>Tax Exemption for Shareholders: Dividends from Industrial Undertakings and Hotels Receive Special Treatment Under Specific Conditions</h1> The statutory provision relates to income tax exemption for dividends from specific industrial undertakings or hotels. Prior to its omission in 1968, the section provided that shareholders would not be taxed on dividends from industrial undertakings or hotels where the underlying profits were exempt from income tax under certain conditions, subject to board rules and regulations.