Finance (Miscellaneous Provisions) Act, 1968
|
Postponement of payment of tax to be permitted in certain cases. |
15.—Where for any accounting period the profits of a company consist of or include the profits of a trade of dealing in or developing land in the course of which the company disposes of the full interest acquired by it in any land and, in relation to that disposal, the conditions specified in paragraphs (b) to (e) of section 23 (1) of this Act are satisfied, subsections (2) and (3) of the said section 23 shall, with any necessary modifications, apply to so much of the corporation profits tax charged by any assessment for the accounting period as would not have been chargeable if no sum had fallen to be taken into account as mentioned in subsection (1) (d) of the said section 23 as they apply to so much of the income tax charged by an assessment in respect of the profits or gains of the said trade as would not have been chargeable in that circumstance. |