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| Links from Section 289 | ||
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Taxes Consolidation Act, 1997 |
(4) References in subsection (3) to the sale of machinery or plant at less than the open-market price do not include references to the sale of machinery or plant in such circumstances that there is a charge to income tax under Schedule E by virtue of Chapter 3 of Part 5, and subsection (3)(b) shall not apply by reason of the gift of machinery or plant if the machinery or plant is given away in any such circumstances. |
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Taxes Consolidation Act, 1997 |
(4) References in subsection (3) to the sale of machinery or plant at less than the open-market price do not include references to the sale of machinery or plant in such circumstances that there is a charge to income tax under Schedule E by virtue of Chapter 3 of Part 5, and subsection (3)(b) shall not apply by reason of the gift of machinery or plant if the machinery or plant is given away in any such circumstances. |
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Taxes Consolidation Act, 1997 |
(c) at or about the time of the discontinuance there occurs in relation to the machinery or plant any event mentioned in paragraphs (a) to (c) of section 318, not being a sale at less than open-market price other than a sale to which section 312 applies, |
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Taxes Consolidation Act, 1997 |
(ii) the event is the permanent discontinuance of the trade and at the time of the discontinuance the machinery or plant is either sold at less than the open-market price, the sale not being one to which section 312 applies, or the machinery or plant is given away, |
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Taxes Consolidation Act, 1997 |
(iii) the event is the sale of the machinery or plant at less than the open-market price, not being a sale to which section 312 applies, or is the gift of the machinery or plant, or |
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Taxes Consolidation Act, 1997 |
(c) at or about the time of the discontinuance there occurs in relation to the machinery or plant any event mentioned in paragraphs (a) to (c) of section 318, not being a sale at less than open-market price other than a sale to which section 312 applies, |
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Taxes Consolidation Act, 1997 |
the amount of the net proceeds, compensation, receipts or insurance moneys mentioned in paragraphs (a) to (c) of section 318 which arise on the last-mentioned event shall be deemed to be an amount of sale, insurance, salvage or compensation moneys arising on the permanent discontinuance of the trade. |
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| Links to Section 289 (from within TaxSource Total) | ||
| Act | Linked from | Context |
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Taxes Consolidation Act, 1997 |
(III) where the event occurs at a time when the company is subject to tonnage tax, the references in section 288 to sale, insurance, salvage or compensation moneys and the reference in section 289(3)(b) to the open-market price of the machinery or plant shall be taken to be references to the least of— |
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Taxes Consolidation Act, 1997 |
(C) the sale, insurance, salvage or compensation moneys (within the meaning of Part 9) arising from the event or, where paragraph (b) of section 289(3) applies, the open-market price of the machinery or plant (within the meaning of that section) at the time of the event. |
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Taxes Consolidation Act, 1997 |
(iii) where the event occurs at a time when the asset is so used, the references in section 288 to sale, insurance, salvage or compensation moneys and the reference in section 289(3)(b) to the open-market value of the machinery or plant shall be taken to be references to the least of— |
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Taxes Consolidation Act, 1997 |
(III) the sale, insurance, salvage or compensation moneys (within the meaning of Part 9) arising on the event or, where paragraph (b) of section 289(3) applies, the open-market price of the machinery or plant (within the meaning of that section) at the time of the event. |
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Taxes Consolidation Act, 1997 |
(i) the person providing the vehicle (in this section referred to as “the prior owner”) sells the vehicle or gives it away so that subsection (5) of section 289, or that subsection as applied by subsection (6) of that section, applies in relation to the purchaser or donee, |
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Taxes Consolidation Act, 1997 |
(iii) in consequence of a succession to the trade or profession of the prior owner, section 313(1) applies, then, in relation to the purchaser, donee or successor, the price which the vehicle would have fetched if sold in the open market or the expenditure incurred by the prior owner on the provision of the vehicle shall be treated for the purposes of section 289, 312 or 313 as reduced in the proportion which the specified amount bears to the actual amount of that expenditure, and, in the application of subsection (3) to the purchaser, donee or successor, references to the expenditure incurred on the provision of the vehicle shall be construed as references to the expenditure so incurred by the prior owner. |
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Taxes Consolidation Act, 1997 |
(b) Where paragraph (a) has applied on any occasion in relation to a vehicle, and no sale or gift of the vehicle has since occurred other than one to which either section 289 or 312 applies, then, in relation to all persons concerned, the like consequences under paragraph (a) shall ensue as respects a gift, sale or succession within subparagraphs (i) to (iii) of that paragraph which occurs on any subsequent occasion as would ensue if the person who in relation to that sale, gift or succession is the prior owner had incurred expenditure on the provision of the vehicle of an amount equal to the expenditure so incurred by the person who was the prior owner on the first-mentioned occasion. |
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Taxes Consolidation Act, 1997 |
(i) the person providing the vehicle (in this section referred to as the “prior owner”) sells the vehicle or gives it away so that subsection (5) of section 289, or that subsection as applied by subsection (6) of that section, applies in relation to the purchaser or donee, |
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Taxes Consolidation Act, 1997 |
then, in relation to the purchaser, donee or successor, the price which the vehicle would have fetched if sold in the open market or the expenditure incurred by the prior owner on the provision of the vehicle shall be treated for the purposes of section 289, 312 or 313 as— |
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Taxes Consolidation Act, 1997 |
(b) Where paragraph (a) has applied on any occasion in relation to a vehicle, and no sale or gift of the vehicle has since occurred other than one to which either section 289 or 312 applies, then, in relation to all persons concerned, the like consequences under paragraph (a) shall ensue as respects a gift, sale or succession within subparagraphs (i) to (iii) of that paragraph which occurs on any subsequent occasion as would ensue if the person who in relation to that sale, gift or succession is the prior owner had incurred expenditure on the provision of the vehicle of an amount equal to the expenditure so incurred by the person who was the prior owner on the first-mentioned occasion. |
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Taxes Consolidation Act, 1997 |
(a) by a transfer to which section 289(6) or 295 applies, or |
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Taxes Consolidation Act, 1997 |
(I)section 289(6), or |
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