Finance Act, 1941

Computation of profits.

11.—(1) The profits from a trade or business to which this Part of this Act applies shall (save as is otherwise provided in this Part of this Act) be computed for the purposes of this Part of this Act without regard to the provisions of paragraph (3) of Rule 6 of the Rules applicable to Cases I and II of Schedule D of the Income Tax Act, 1918, or the provisions of section 14 of the Finance Act, 1929 (No. 32 of 1929).

(2) The provisions of the foregoing sub-section of this section are, in this Part of this Act, referred to as the provisions of this Part of this Act relating to the computation of profits.