Deductibility rule amended: prior full disallowance now limited to a partial disallowance, altering tax deduction treatment. The amendment replaces the previous complete non deductibility rule by providing that twenty per cent. of such expenditure shall not be allowed as a deduction, thereby changing the computation of allowable business deductions by fixing the disallowance at a proportion of the expenditure.
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Deductibility rule amended: prior full disallowance now limited to a partial disallowance, altering tax deduction treatment.
The amendment replaces the previous complete non deductibility rule by providing that twenty per cent. of such expenditure shall not be allowed as a deduction, thereby changing the computation of allowable business deductions by fixing the disallowance at a proportion of the expenditure.
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