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Year of claim.
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402.—In this Chapter “year of claim” means each of ten consecutive years of assessment of which the first is such one of the three years of assessment commencing on the 6th day of April, 1957, the 6th day of April, 1958, and the 6th day of April, 1959, respectively, as elected by the company or, in default of election, the year commencing on the 6th day of April, 1959, but, in any case in which the standard period is the period of one year ending on the 30th day of September, 1956, the year of assessment commencing on the 6th day of April, 1957, shall not be a year of claim if the basis period in relation thereto commenced on a day prior to the 1st day of October, 1955:
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(a) in relation to a company which exports goods on or after the 6th day of April, 1960, and has not exported goods before that date, “year of claim” means each of ten consecutive years of assessment of which the first is either the earliest year of assessment for which income tax under Case I of Schedule D in respect of the company's trade is finally computed on the profits or gains of a period in which the company exports goods or the next succeeding year of assessment, as elected by the company, or, in default of election, the said succeeding year of assessment, but the year 1980-81 or any subsequent year of assessment shall in no case be a year of claim, and
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“year of claim” means each of ten consecutive years of assessment of which the first is either the year 1960-61 or the year 1961-62, as elected by the company, or, in default of election, the year 1961-62.
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