Finance Act, 1959
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Manner of making allowances and charges (machinery and plant). |
44.—(1) Any balancing allowance or balancing charge made to or on any person under the preceding provisions of this Chapter shall, unless it is made under or by virtue of section 43 of this Act, be made to or on that person in charging the profits or gains of his trade. | |
(2) Any wear and tear allowance or balancing allowance made under or by virtue of section 43 of this Act shall be made by way of discharge or repayment of tax and shall be available primarily against income from the letting of machinery or plant. | ||
(3) Any balancing charge made under or by virtue of section 43 of this Act shall be made under Case VI of Schedule D. |