Finance Act, 1990
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Amendment of Schedule 1 (computational rules) to Capital Gains Tax Act, 1975 . |
86.—As respects appropriations to stock in trade on or after the passing of this Act, paragraph 15 of Schedule 1 to the Capital Gains Tax Act, 1975 , is hereby amended by the insertion, after the proviso to subparagraph (3), of the following additional proviso: | |
“Provided also that an election under this subparagraph shall not be made in any case where application of the provisions of subparagraph (1) would give rise to an allowable loss.”. |