[614BJ Meaning of “normal rental excess” and “cumulative normal rental excess”]
Income Tax Act 2007 (2007 c 3) | Legislation

[614BJ  Meaning of “normal rental excess” and “cumulative normal rental excess”]

[(1)     For the purposes of this Chapter, there is a “normal rental excess” in relation to a lease for any period of account of the current lessor (“L”) throughout which the leasing arrangements fall for accounting purposes to be treated, in accordance with generally accepted accounting practice, as a finance lease or loan if—

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