Case V
15/03/1991
Query
Is a balancing charge made in charging a person's income under Case V of Schedule D a Case V surplus for the purpses of section 97(1).
Decision
Yes
Income Tax
Section 97, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT913011
26/09/1996
Query
Whether interest is allowable in repect of a replacement loan on a rented property.
Decision
Interest on borrowed money employed in the purchase, repair or improvement of a rented premises is allowable. In certain situations, Revenue allows interest where the original loan is relpaced by another loan. In determining whether such interest is to be allowed, the inspector will take into account all the circumstances of the case, including whether the transaction was a genuine commercial transaction
Income Tax
Section 97, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT962509