Urban renewal - transitional
21/07/1997
Query
Urban renewal - 1994 scheme, transitional arrangements. Expenditure to which the extended deadline will apply
Decision
The extended deadline will apply only in relation to such construction, conversion or refurbishment as is contemplated in the certificate. This may involve confining a claim to such expenditure, where the original project remains intact but further work is done, or disallowing the claim where the original project is effectively abandoned. Expenditure incurred by a person other than the person to whom the certificate was issued will qualify for the extended deadline provided the expenditure is incurred as part of the project in relation to which the certificate was issued.
Income Tax
Section 26, Finance Act, 1997
Origin: RLS Division
File ref:IT972007