| Links from Section 596 | ||
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| Act | Linked to | Context |
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Taxes Consolidation Act, 1997 |
(3) Subsection (1) shall not apply in relation to a person’s appropriation of an asset for the purposes of a trade if the person is chargeable to income tax in respect of the profits of the trade under Case I of Schedule D, and instead elects that the market value of the asset at the time of the appropriation shall, in computing the profits of the trade for the purposes of income tax, be treated as reduced by the amount of the chargeable gain or increased by the amount of the allowable loss referred to in that subsection and, where that subsection does not apply by reason of such an election, the profits of the trade shall be computed accordingly; but— |
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| Links to Section 596 (from within TaxSource Total) | ||
| Act | Linked from | Context |
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Taxes Consolidation Act, 1997 |
(2) Section 618 applies in relation to this paragraph as it applies in relation to section 596. |
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Taxes Consolidation Act, 1997 |
(6)Subsection (5) shall apply notwithstanding section 596 or any other provision of the Capital Gains Tax Acts fixing the amount of the consideration deemed to be given on a disposal or acquisition. |
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Taxes Consolidation Act, 1997 |
(6) Subsection (5) shall apply notwithstanding section 596 or any other provision of the Capital Gains Tax Acts fixing the amount of the consideration deemed to be given on a disposal or acquisition. |
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Taxes Consolidation Act, 1997 |
(7) Where land is appropriated as trading stock, section 596(1) shall apply for the purposes of this section, as it applies for the purposes of the Capital Gains Tax Acts. |
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Taxes Consolidation Act, 1997 |
(4) Section 596 shall not apply where a relevant emissions allowance acquired by a person is appropriated as trading stock of the trade carried on by the person. |
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Taxes Consolidation Act, 1997 |
the company acquiring the asset shall be treated for the purposes of section 596 as having acquired the asset otherwise than as trading stock and immediately appropriated it for the purposes of the trade as trading stock. |
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Taxes Consolidation Act, 1997 |
(2) Where a member of a group of companies disposes of an asset to another member of the group and the asset formed part of the trading stock of a trade to which this section applies carried on by the member disposing of the asset but is acquired by the other member otherwise than as trading stock of a trade carried on by that other member, the member disposing of the asset shall be treated for the purposes of section 596 as having immediately before the disposal appropriated the asset for some purpose other than the purpose of use as trading stock. |
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Taxes Consolidation Act, 1997 |
(4) Where by virtue of section 643(3)(c) any person is charged to tax on the realisation of a gain, and by virtue of section 643(10) the computation of the gain proceeded on the basis that the land or some other property was appropriated at any time as trading stock, that land or other property shall also be treated on that basis for the purposes of section 596. |
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