Capital Allowances - Motor Vehicles
31/05/1996
Query
Where a balancing charge arises on the disposal of a motor vehicle what amount is deducted from the replacement cost? i.e. is it the amount of the charge before or after adjustment has been made for private use?
Decision
The amount to be deducted is the amount of the charge after adjustment has been made for private use.
Income Tax
Section 290, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT963523