Finance (Increase of Income Tax) Act, 1931

Validation of deductions.

2.—(1) Nothing in this Act shall render invalid anything done before the passing of this Act nor shall anything in this Act render invalid or improper any deduction in respect of income tax which was made before the passing of this Act or is made within ten days after such passing and, in either case, would have been a proper deduction if this Act had not been passed.

(2) Every deduction in respect of the income tax for the year beginning on the 6th day of April, 1931, made before the passing of this Act by reference to a rate of three shillings and sixpence in the pound shall be treated for all purposes (including the purposes of any legal proceedings instituted before the passing of this Act, as having been made by reference to the proper rate of such tax.