Finance Act, 1968
Amendment of section 251 of Income Tax Act, 1967. |
38.—The following subsection is hereby substituted for section 251 (4) of the Income Tax Act, 1967 : | |
“(4) Notwithstanding anything in the preceding provisions of this section, this Chapter shall have effect— | ||
(a) in relation to capital expenditure incurred on or after the 14th day of December, 1961, and before the 1st day of April, 1967, as if ‘two-fifths’ were substituted for ‘one-fifth’ in subsection (1), | ||
(b) in relation to capital expenditure incurred on or after the 1st day of April, 1967, and before the 1st day of April, 1968, as if ‘one-half’ were substituted for ‘one-fifth’ in subsection (1), and | ||
(c) in relation to capital expenditure incurred on or after the 1st day of April, 1968, and before the 1st day of April, 1971, as if ‘three-fifths’ were substituted for ‘one-fifth’ in subsection (1).”. |