Revenue Precedent

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Revenue Precedents

Section 342(2)(a) Taxes Consolidation Act 1997 states that all the provisions of the Tax Acts relating to the making of allowances or charges in respect of capital expenditure incurred shall apply. Does section 420(2) Taxes Consolidation Act 1997 relate to the making of allowances and thereby permitting the set off of allowances against the profits of a group company? If capital allowances are available to the lessor, the provisions of Section 420(2) Taxes Consolidation Act 1997 will apply. IT902035