Finance Act, 1975

Definition of “capital allowance”.

33.—(1) In the Income Tax Acts, save where the context otherwise requires, “capital allowance” means any allowance (other than an allowance or deduction to be made in computing profits or gains) under—

(a) Parts XIII to XVIII of the Income Tax Act, 1967 ,

(b) section 22 of the Finance Act, 1971 ,

(c) the Finance (Taxation of Profits of Certain Mines) Act, 1974 , or

(d) section 22 of the Finance Act, 1974 ,

and “capital allowances” shall be construed accordingly.

(2) Part II of the First Schedule shall have effect for the purpose of supplementing this section.