Capital allowance timing: deduction allowed in the year of installation when installation follows acquisition under amended rules. The amendment conditions entitlement to the capital allowance on acquisition and on installation by requiring that qualifying assets acquired in a previous year exceeding the threshold must be installed by the specified cut off date; it adds a proviso permitting the deduction in the year of installation where installation occurs after acquisition and renames the prior proviso as a further proviso.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Capital allowance timing: deduction allowed in the year of installation when installation follows acquisition under amended rules.
The amendment conditions entitlement to the capital allowance on acquisition and on installation by requiring that qualifying assets acquired in a previous year exceeding the threshold must be installed by the specified cut off date; it adds a proviso permitting the deduction in the year of installation where installation occurs after acquisition and renames the prior proviso as a further proviso.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
