Finance Act, 1971
Amendment of section 69 of Finance Act, 1959. |
46.—(1) Any reference in section 69 of the Finance Act, 1959 , to an allowance under section 241 of the Income Tax Act, 1967 , shall, in a case in which section 26 (2) of this Act has had effect, be construed as a reference to the allowance as increased under that subsection. | |
(2) Section 69 of the Finance Act, 1959 , is hereby amended by the insertion in subsection (1) of the following paragraph after paragraph (d); | ||
“(dd) an investment allowance under section 22 of the Finance Act, 1971,”. | ||
(3) Where for any year of assessment— | ||
(a) section 26 (2) of this Act is deemed not to have applied to any machinery or plant, or | ||
(b) an investment allowance in respect of qualifying machinery or plant is withdrawn under section 25 of this Act, | ||
there shall be made for the purposes of corporation profits tax all such additional assessments and adjustments of assessments as may be appropriate. |