Increase in allowable deduction limit for properties financed by borrowed capital within a specified transitional borrowing and completion window. An amendment to section 24 inserts a proviso, effective from the first day of April, 2000, providing that where property is acquired or constructed with capital borrowed on or after the first day of April, 1999 and such acquisition or construction is completed before the first day of April, 2001, the first proviso shall have effect as if the originally stated monetary amount were substituted by a higher monetary amount for those qualifying transactions.
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.
Increase in allowable deduction limit for properties financed by borrowed capital within a specified transitional borrowing and completion window.
An amendment to section 24 inserts a proviso, effective from the first day of April, 2000, providing that where property is acquired or constructed with capital borrowed on or after the first day of April, 1999 and such acquisition or construction is completed before the first day of April, 2001, the first proviso shall have effect as if the originally stated monetary amount were substituted by a higher monetary amount for those qualifying transactions.
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