(1) Notwithstanding anything contained in this Ordinance, any income or class of income or the income of any person or class of persons specified in Part A of the Sixth Schedule shall be exempt from the tax payable under this Ordinance, subject to the limits, conditions and qualifications laid down therein and shall be excluded from the computation of total income under this Ordinance.

1[(2) Subject. to the provisions of this Ordinance and The limits, conditions and qualifications laid down in Part B, of the Sixth Schedule~

(a) tax shall not be payable by an assessee in respect of any income or any sum specified in paragraphs 15 and 16 of the said Part B; and

(b) an assessee shall be entitled to a credit from the amount of tax payable on his total income of an amount equal to fifteen percent of the sums specified in paragraphs 1, 2, 3, 4, 5, 6, 8, 9, 10, 11 2[,1] A, 11B],13 3[, 17 and] 21 of the said Part B.]

4[(3) The aggregate of the allowances admissible. under paragraphs 1, 2, 3, 4, 5, 6, 8, 9, 10, 11A, 11B, 13, 17 and 21 of Part B of the Sixth Schedule shall not exceed-
(a) two lakh taka; or

(b) two lakh and twenty five thousand taka where the investment exceeding two lakh taka is made under paragraph 8 of Part B of the Sixth Schedule in the acquisition, otherwise than by purchase or transfer form previous holders, of shares of a company listed with any Stock Exchange in Bangladesh:

Provided that the amount admissible under clauses (a) and (b) shall not, under any circumstances, exceed twenty per cent of Me total income of the assessee].

1 Subs. by F. A. 1992
2 Ins. by F. A. 2000
3 Subs. for “, 17 and” by F. A. 1993
4 Subs. by F.A. 2000

(4) The Government may, by notification in the official Gazette,

(a) make such amendments, by way of addition. , omission, alteration or qualification in the Sixth Schedule as it may deem fit; and

(b) make any exemption, reduction in rate or other modifications in respect of tax in favor of any class of income or in regard to the whole or any part of the income of any class of persons.

45. Exemption of Income of an industrial undertaking.

(1) Subject to thx~ provisions of this Ordinance, the income, profits and gains of an industrial undertaking set up in Bangladesh between the first day of July, 1974, and the thirtieth day of June, 1985 (both days inclusive), shall be exempt from tax payable under this Ordinance for the period specified below

(a) if the undertaking is set tip in such areas as the Board, may, by notification in the official Gazette, specify to be "Special Economic Zone" for a period of twelve years beginning with the month of commencement of commercial production of the undertaking;

(b) if the undertaking is set up in such areas as the Board may, by notification in the official Gazette, specify in this behalf, for a period of nine years beginning with the month of commencement of commentarial production of the Undertaking; and

(c) in other areas, for a period of five years beginning with the month of such commencement.

Explanation. For the purposes of this section, "industrial undertaking" includes expansion of anexisting undertaking if such expansion constitute---

(a) an identifiable unit for production of similar or other goods, or class of goods; or

(b) a similar unit carrying on an identifiable industrial process but does not include an undertaking which is formed by splitting up or reconstruction of anexisting, business or by the transfer of machinery or plant of an existing business in Bangladesh to a new business.

(2) The exemption under sub section (1) shall apply to an industrial undertaking (hereinafter referred to as the “said undertaking”) which fulfills the following conditions, namely

(a) that the said undertaking is owned and managed by--

(i) a body corporate established by, or in pursuance of, an Act of permanent with its head office in Bangladesh: or

(ii) a company registered under the Companies Act, 1913 (VII of 1913), with its registered office in. Bangladesh and having a subscribed and paid up capital of not less than one lakh taka on the date of commencement of commercial production;

(b) that the said undertaking belongs to such class of industry as the Board may, by notification in the official Gazette, specify for the purposes of this section;

(c) that a part of the income exempted under this section is reinvested in the said undertaking or invested An the purchase of bond issued by the Government an d such reinvestment or investment is not

(i) less than fifteen per cent of such income, if it is an undertaking set up in the areas referred to in sub section. (l) (a) and (b); and

(ii) less than, thirty per cent in other areas;

(d) that the said undertaking is approved and, during the Relevant income year, stands approved by the Board for the purposes of this section;

(e) that the application: in the prescribed from for approval for the purposes of this section, as verified in the prescribed manner, is made to the Board within one hundred and twenty days from the date of commencement of commercial production:

Provided that the Board may admit an application after the after of the said period of one hundred and twenty days if it is satisfied that there was sufficient cause for not making the application within the said period.

'[(2A) Subject to the provisions of this Ordinance, the income, profits and gains of an industrial undertaking setup, in Bangladesh between the first day. of July, 1985. and the thirtieth day of June, 2(1 9951 (both days inclusive), s , hall be exempt from the tax payable under this Ordinance, for the period specified below

(a) if the undertaking is set up in such areas as the Board may, by notification in the official Gazette,' specify to be "Special Economic Zone.", for a period of twelve years beginning with the month of commencement of commercial production of the undertaking;

(b) if the undertaking is set up in such areas Board may, by notification in the official Gazette, specify to be "Least developed' Areas", for a period of nine years beginning with the month of commencement of commercial production of the undertaking;

(c) if the undertaking is set do in such areas as the Board may, by notification in the official Gazette, specify to be “Less Developed Areas”, for a period of 3[seven] years beginning with the month of commencement of commercial production of the undertaking; and

(d) if the undertaking is set up in the city of Dhaka, Chittagong or Khulna or the municipality of Narayanganj, or within ten miles from the outer limits thereof, for a period of 4[five] years beginning with the month of commencement of commercial production of the undertaking.

(2B) The ex4mption under sub section (2A) shall apply to an industrial undertaking (hereinafter referred to as the "said undertaking") which fulfills the following conditions, namely
(a) that the said undertaking is owned and managed by
(i) a body corporate established by, or in pursuance of, art Act of Parliament with its head office in Bangladesh; or
(ii) a company registered under 5[the Co mpanies Act, 1913 (VII of 1913) or ‡Kv¤úvbx AvBb, 1994 (1994 m‡bi 18 bs AvBb)], with its registered office in Bangladesh and having a subscribed and paid up capital of not less

1 Sub section (24) and(2B) ins. by F.O. 1985
2 Subs. “2000" for "1990" by F. A. 1989 and subsequently. "1995 " for "2000" by F. A.
1991
3 Subs. for "six" by I.T. (amend.) Ord. 1986, dt 8 7 86
4 Subs. for 'four" by I.T. (amend.) Ord. 1986, dt. 8 7 86
5 Subs. for "the Companies Act. 1913 (VII 1913)" by F.A. 1995

Then one takes on the date of commencement of commercial production
(b) that the said undertaking belongs to such class of industry as the Board may, by notification in the official Gazette, specify for the purpose of this subsection;

1[(c) * * *];

2[(cc) that a part of the income exempted under sub section (2A) is invested, 3 [during the period, or within one year from the end of the period] to which the exemption under that sub section relates, in the said undertaking or in any new industrial undertaking or in any productive assets being stocks and shares of a public company or bonds or securities issued by the Government 4 and such investment is not less than 4[thirty per cent.] of such income, failing which the income so exempted, shall, notwithstanding the provisions of this Ordinance, be subject to tax in the assessment year for which the exemption was allowed:]

5[Provided that the quantum of, investment referred to In this clause shall be reduced by, the amount dividend, if any, declared by the company enjoying tax exemption under this section;]

(d) that the said undertaking is approved and, during the relevant income year, stands approved by the Board for the purposes of this, section;

(e) that the, application, in the prescribed form for approval for the purposes of this section, is verified in the prescribed manner, is made to the Board within one hundred and eighty days from the date of commencement of commercial production:

1 Subs. by F. A. 1990, 1992 and subsequently deleted by F A. 1994
2 Subs. by F. A. 1992
3 Subs. for “within two years from the end of the period” by 1999
4 Subs. for “twenty five percent.” by F. A. 1994
5 Ins. by F. A. 1999

Provided that the Board may admit an application after the expiry of the said period of 1[one hundred and eighty days] if it is satisfied that there was sufficient cause for not making the application within the said period.]

2[(2C) The Board shall give its decision on an application made under clause (e) of subsection (211) within 3 [three months] from the date of receipt of the application by the Board, failing which the undertaking shall be deemed to have been approved by the Board for the purposes of this section

(3) The income, profits and gains of the said undertaking to which this section applies, shall be computed in accordance with the provisions of sections 28 and 29:

"provided that in respect of depreciation, only the allowances for normal deprecation specified in paragraph 3 of the Third Schedule shall be allowed.

(4) The profits and gains of the said undertaking shall be computed separately from other income, profits and. gains of the assessee, if any, and where the assessee sustains i loss from such undertaking, it shall be carried forward and set off against the profits and gains of the said undertaking for the following year, and where it cannot be wholly set off, the ,amount of the loss not so set off, shall be carried forward for the next: year and so on, but no, loss shall be carried beyond the period of exemption allowed under this section.

(5) Nothing contained in this section shall be so construed as to exempt the following:-

(a) any dividend paid, credited or distributed or deemed to have been paid, edited or distributed by a company to its share-holders out of the profits ar6 gains exempt from tax under this, section and

(b) any income of the said undertaking classifiable ., as "Capital gains" ch2geable under the provisions of section 3 1.

1 Subs. for "one hundred and twenty days by F.0. 1986
2 Ins. by F. A. 1991,
3 Subs. for “six month, by F. A. 1992
4 Subs. by 1999

(6) Where any exemption has been allowed under this section and it is subsequently discovered by the Deputy, Commissioner of Taxes that any one or more of the conditions, specified in this section, were not, fulfilled, the exemption originally allowed shall be deemed to, have been wrongly Allowed, and the Deputy commissioner of Taxes may, notwithstanding anything contained in this Ordinance, re compute the total income of, and the tax payable by, the assessee for the relevant income year and the provisions of section 93 or 94 shall, so far as may be, apply thereto, the period of two years specified in section 94 being reckoned from the end of the assessment year relevant to the income year in which the infringement was discovered.

(7) An industrial undertaking approved 'under this section may, not later than six months trot the date of approval, apply in writing to the Board for the cancellation of such approval, and the Board may pass such orders thereon as it may deem fit.

1[(8) Notwithstanding anything contained in this section, the Board may, in the public interest, cancel or suspend. My or partially any exemption allowed under this section.]

46. Exemption of income of a tourist industry.

(1) Subject to the provi5ions of this Ordinance, the income, profits and gains of a tourist industry set up in Bangladesh between the first day of January, 1976, and the thirtieth day of June, 1985 (both days inclusive), shall be exempt from the tax payable under this Ordinance, for the period specified below

(a) if the industry is set up in such areas as the Board may, by notification in the official Gaze4e, specify to be "Special Economic Zone", for a period of twelve years beginning with the commencement of its commercial service;

(b) if the industry is set up in the cities of Dhaka, Chittagong, Khulna and Rajshahi and the areas fifteen miles from the outer municipal limits of those cities, for a period of five years beginning with the month of commencement of its. Commercial service; and

(c) in other areas, for a period of seven years beginning with the month of such commencement.

1Ins by F.A 1992

Explanation.-- For the, purposes of this section, the expression "tourist industry" means a business, industry or undertaking which caters for the tourists including setting Up, establishment or running of hotels, motels, 1[hurting lodges, amusement and theme park, holiday home. tourist resort, family fun and games, energy park] and private picnic spots of such standard as may be prescribed by the Board.

(2) The exemption under sub section (1) shall apply to a tourist industry (hereinafter referred to as the "said industry"), which fulfils the following conditions, namely:

(a) that the said industry is owned and managed by a Bangladeshi company having a subscribed and paid up capital of not less than one lakh taka on the date of Commencement of its commercial service;

(b) that the said industry shall have such service facilities as the Board may, by notification in the official Gazette, specify in this behalf

(c) that a part of the income, profits and gains derived from the said industry exempted under sub section (1) is reinvested in it or is invested in the purchase of bond issued by the Government, and such reinvestment or impertinent is not--
(i) less than thirty per cent., if it is an industry, set up, in the are as referred to in sub section (1) (b); and

(ii) less than fifteen per cent., in other areas

(d) that an application in the prescribed form for approval for the purposes of third section, as verified in the prescribed manner, is made to the Board within one hundred and, twenty days of the date of commencement of, commercial service;

(e) that the said industry is approved and, during the relevant income year, ,stands approved by the Board for the purposes of this section.

1Subs. for “huntingbdge” by F.A. 2001

1[(2A) Subject to the provisions of this Ordinance, the income, profits and gains of a tourist industry set up in Bangladesh between. the first day of July, 1985, and the 30th day, of June. 2[1995] (both days inclusive) shall be exempt from the tax payable under this Ordinance, for the periods specified below—

(a) if the industry is set up in such areas as the Board may by notification in the official Gazette, specify to be “Special Economic Zone”, for a period of twelve years beginning with the month of commencement of its commercial service;

(b) if the industry is set up. in such areas as the Board may, by, notification in the official Gazette, specify to be “Least Developed Areas”, for a period of nine years beginning with the month of commencement of its commercial service;

(c) if the industry is set up in such. areas as the Board may, by notification in the official Gazette, specify to be “Less Developed Areas”, for a period of 3[seven years] beginning with the month of commencement of its commercial service; and

(d) if the industry is set up in the city of Dhaka, Chittagong or Khulna or the municipality of Rajsbahi, or within 15 miles from the outer limits thereof, for a period of 4[seven years] beginning with the month of commencement of its commercial service.

(2B) The exemption under sub section (2A) shall apply to a tourist industry (hereinafter referred to as the "said industry"), which Fulfils the following conditions, namely:-
(a) that the said industry is owned and managed by a Bangladeshi company having subscribed and paid up capital of not less than one lakh taka on the date of commencement of its commercial service,

(b) that the said industry shall have such service facilities as the Board may, by notification in the official Gazette, specify in this behalf;]

1 Sub sec. (2A) & (2B) ins. by F. O. 1985
2 Subs. “2000” for “1999” by F.A. 1989 and subsequent “1995” for “2000” by F.A. 1991
3 Subs. for “six years” by I.T (amend). Ord. 1986, dated 8 7 86 (w.e.f. 1 7 1985)
4 Subs. for “four years” by I.T (amend.) Ord. 1986. dated 8 7 86 (w.e.f 1 7 1985)

1[(c) * * *];

2[(cc) that a Part of the income exempt I ed under sub section (2A) is invested, 3[during the period, or within one year from the end of the period] to which the exemption under that; sub section relates, in the said undertaking or, in any new industrial undertaking or in any. productive assets being stocks and shares of a public company or bonds or securities issued by the Government and such investment is not less than 4[thirty per cent.] of such .income, failing which the income so exempted shall, notwithstanding the provisions of. this Ordinance, be subject to tax in the., assessment year for which the exemption was allowed:]

5[Provided that the quantum of investment referred to in this clause shall be reduced by the amount of dividend, if any, declared by the company enjoying tax exemption under this. Section;]

(d) that an application in the prescribed form for approval for the purposes of this section as verified in the prescribed manner, is made to the Board within 6[one hundred and eighty days] of the date of commencement of commercial service,

(e) that the said industry is approved and, during the relevant income year, stands approved by the Board for the purposes of this section.

7[(2C) The Board shall give its decision on a n application made under clause (d) of subsection (2E), within 8tthree months) from the date of receipt of the application by the Board, failing which the industry shall be deemed to have been approved by the Board for, the purposes of this section.]

1 Subs. by F.A. 1992, deleted by F.A. 1994
2 Subs. by F. A. 1992
3 Subs. for "within two years from the end of the period by F. A. 1999
4. Subs. for "twenty five per cent. by F.A. 1994 which was, subs. for twenty per cent
5 Ins by F A. 1996
6 Subs. for “one hundred and, twenty days” by F.O. 1986
7 Ins F.A. 1990
8 Subs. by F.A. 1992

(3) The profits and gains of the said industry to which this section applies shall be computed in accordance with the provisions of sections 28 and 29:

Provided that in respect of depreciation, only the allowance for normal depreciation specified in paragraph 3 of the Third Schedule shall be allowed.

(4) The profits and gains of the said industry shall be computed separately from other income, profits and gains of the assessee, if any, and where the assessee sustains a loss from such industry, it shall be carried forward and set off against the profits and gains of the said industry for the following year and where it cannot be wholly set off, the amount of the loss not so, set off, shall be carried forward for the next year and so on, but no loss shall be carried forward beyond the period of exemption allowed under this section.

(5) Nothing contained in this section shall be so, construed as to exempt the following:(a) any dividend paid, credited or distributed or deemed to have been 'paid, credited or distributed by a company to its, shareholders out of the profits and gains exempt from tax under this section; and

(b) any income of the said industry classifiable as "Capital gains" chargeable under the provisions of, section 3 1.

(6) Where any exemption has been allowed under this section and it is subsequently discovered by the Deputy Commissioner of Taxes that any one or more of the conditions specified in this section were not fulfilled, the exemption originally allowed shall be deemed to have been wrongly allowed and the Deputy Commissioner of Taxes may, notwithstanding. anything contained in this Ordinance, re compute the total income of, and the tax payable by, the assessee for the relevant income year, and the provisions of section 93 or 94 shall, so far as may be, apply thereto, the period of two years specified in section 94 being reckoned from the end of the assessment year relevant to the income year in which the infringement was discovered.

(7) A tourist industry approved under this section may, not later than six months from the date of approval, apply in writing to the Board for the cancellation of such approval, and the Board may pass such orders thereon as it may deem fit.

1[(8) notwithstanding anything contained in this section, the 13 board may, in the public interest, cancel. or suspend fully. or, partially the exemption allowed under this. section.]

2[46A. Exemption from tax of newly established industrial undertakings, etc. in certain cases:-

(1) Subject to the provisions of this Ordinance profits and gains of an industrial undertaking, tourist industry or physical infrastructure facility (hereinafter referred to as the said undertaking) set up in Bangladesh between the first day of July, 1995 and the thirtieth day of 3[June, 2005] (both days inclusive) shall be exempt from the tax payable under this Ordinance for the period specified below

(a) if the said undertaking is set up in 4[Dhaka and Chittagong. Divisions], excluding the hill districts of Rangamati, Bandarban and Khagrachari, for a period of five years beginning with the month of commencement of commercial production or operation of the said undertaking;

(b) if the said undertaking is set up in 5[Rajshahi, Khulna, Sylhet and Barisal divisions) and the hill districts of Rangamati, Bandarban and Khagrachari, for a period of seven years beginning with the month of commencement of cornmercial production or operation of the said undertaking.]

6 [Explanation- For the purpose of this section, industrial undertaking, tourist industry or physical infrastructure facility does not include expansion of an existing undertaking.]

(2) The exemption under sub section (1) shall apply to the said undertaking if it fulfils the following conditions, namely:

(a) that the said undertaking is owned and managed by
(i) a body corporate established by or under an Act of Parliament with its head office in Bangladesh; or

1 Ins. by F.A. 1992
2 Ins. by F.A. 1995
3 Subs. for “June, 2000 by F.A. 2000
4 Subs. for “Dhaka, Chittagong and Sylhet divisions” by F.A. 2000
5 Subs. for “Rajshohi Khulna and Barisal divisions” by F,_ A. 2000
6 Subs. by F.A. 2002

(ii) a company as defined in the Companies Act, 1913 (VII of 1913) or or ‡Kv¤úvbx AvBb, 1994 (1994 m‡bi 18 bs AvBb)] with its registered office in Bangladesh and having a subscribed and paid up capital of not less than one lakh taka on the date of commencement of commercial production or operation;

(b) that the said undertaking is engaged in
(i) the manufacture of goods or materials or the subjection of goods or materials to any such process, or the exploration and extraction of mineral resources and processing of agricultural products; providing, on commercial basis physical infrastructure facility;

(iii) tourist industry as defined in the explanation to section 46.

Explanation,- For the purposes of this section, “physical infrastructure facility” means generation, transformation, conversion, transmission and distribution or supply of electrical energy or hydraulic power, or road, highway, bridge, airport, or the system of railway or telecommunication, or such other public facility of similar nature as may be specified by the Board in this behalf by notification in the official Gazette;

(c) that a part of the income exempted under sub section (i) is invested during the period of exemption or within one year from the end of the period to which the exemption under that sub section relates, in the said undertaking ' or in any new industrial undertaking or in any productive assets being stocks and shares of a public company or bonds or securities issued by the Government and such investment is not less than 1[forty] per cent of such income, failing which the income so exempted shall, notwithstanding the provisions of this Ordinance, be subject to tax in the assessment year for which the exemption was allowed. Provided that the quantum of investment referred to in this clause shall be reduced by the amount of dividend if any, declared by the company enjoying tax exemption under this section.

1Subs. for "thirty" by F.A. 2002

(d) that the said undertaking is not formed splitting up or by reconstruction or reconstitution of business already in existence or by transfer to a new business of any machinery or plant used in business which was being carried on in Bangladesh at Any time before the commencement of the new business;

(e) that the said undertaking is approved., and during the relevant income year, stands approved by the Board for the purposes of this section;

(f) that the application in the prescribed form for approval for the purposes of this section, as verified in the prescribed manner, is made to the Board '[within six months from the end of the month] of commencement of commercial production or operation.

2 [(2A) The exemption under sub section (1) shall not Apply if the said undertaking makes any financial or commercial transaction in any manner with another industrial company incorporated under ‡Kv¤úvbx AvBb, 1994 (1994 m‡bi 18 bs AvBb)] having one or more sponsor share holder common between them, whether that company is exempted or not under the said sub section.)

(3) The Board shall give its decision on an application made under clause (f) of subsection (2) within 3 [thirty days] from the date of receipt of the application by the Board, failing which the undertaking shall be deemed to have been approved by the Board for the purposes of this section:

4[Provided that the Board shall not reject any application made under this section unless the applicant is given a reasonable opportunity of being heard.]

(4) The Board may, on an application of any person aggrieved by any decision or order passed under sub section (3), if the application is made within four months of the receipt of such decision or order, review the previous decision or order and pass such order in relation thereto as it thinks fit.

1 Subs. for “within one hundred eighty days from the date” by F.A. 2000
2 Ins. by F.A. 2002
3 Subs. for “three months” by F A. 2002
4 Ins. by F.A. 2002

(5) The profits and gains of the Undertaking to, which this section applies’ shall be computed in the same manner as is applicable to income chargeable under the head “Income from business or profession”;

1(Provided that in respect of depreciation, only the allowances for normal depreciation specified in paragraph 3 of the Third Schedule shall be allowed].

(6) The profits and gains of the said undertaking shall be computed separately from other income, profits and gains of the assessee, if any, and where the assessee sustains a loss from such undertaking it shall be carried forward and set off against the profits and gains of the said undertaking for the following year and where it cannot be wholly set off, the amount of the loss not so, set off, shall be carried forward for the next year and so on, but no loss shall be carried forward beyond the period specified by the Board in the order issued under sub section (3) or (4).

(7) Unless otherwise specified by the Government, nothing contained in this section shall be so construed as to exempt the following from tax chargeable under this section:-

(a) any dividend paid, credited or distributed or deemed to have been paid, credited or distributed by a company to its share holders out of the profits and gains;

(b) any income of the said undertaking classifiable as “Capital gains” chargeable under the provisions of section 312[; and]

3[(c) any income of the said undertaking resulting from disallowance made under section 30.]

(8) Where any exemption is allowed under this section and in the course of making assessment, the Deputy Commissioner of Taxes is satisfied that any one or more of the conditions specified in this section are not fulfilled, the exemption will stand withdrawn for the relevant assessment year and the Deputy Commissioner of Taxes shall determine the tax payable for such year.

1 Subs. by F A. 1999
2 Subs. for "." by F. A. 2001
3 Ins. by F.A. 2001

(9) any such undertaking approved under this section may, not latter than one year from the date of approval, apply writing to the Board for the cancellation of such approval, and the Board may pass such orders thereon as it may deem fit

(10) Notwithstanding anything contained in this section, the Board, may, in the public interest, cancel or suspend fully or partially any exemption allowed under this section.

(11) The Board may make, rules regulating the procedure for the grant of approval under sub section (3), review under sub section (4) and furnishing of information regarding payment of other taxes by the said undertaking and any other matters connected with or incidental to operation of this section.

47. Exemption of income of co operative societies.

(1) Tax shall not be payable by a co operative society including a co operative society carrying on the business of banking in respect of--

(a) so much of its income as is derived by it as a result of such of its dealings with its members as involve sale of goods, the lending of money or the lease of buildings and land, which is for the personal use of such members, or where such member is a firm or an association of persons, for, the personal use of the partners thereof;

(b) the entire income from business carried on by it, if it is engaged in the following:-

(i) agricultural or rural credit;

(ii) cottage industry;

(iii) marketing of agricultural produce of its members;

(iv) purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to its members; or

(v) such processing, not being the performance of any manufacturing operation with the aid of power, of the agricultural produce of its members as is ordinarily employed by a cultivator to render marketable the agricultural produce raised by him;

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