Finance Act, 1990
|
Chapter VIII Capital Allowances | ||
|
Amendment of section 241 (wear and tear of machinery, plant, etc.) of Income Tax Act, 1967 . |
70.— Section 241 of the Income Tax Act, 1967 , is hereby amended in relation to machinery or plant provided for use for the purposes of a trade on or after the 1st day of April, 1990, by the insertion in subsection (1), after “chargeable period or its basis period” of “, and which, while used for the purposes of the trade, is wholly and exclusively so used,”. |