Related Commentary  Related Cases

111(1)  Expenditure taken into account under section 2(9)(b)(i) or (c)(i) of the Oil Taxation Act 1975 (“the principal Act” ) in computing the assessable profit or allowable loss accruing to a participator in a chargeable period from an oil field shall not qualify for supplement under section 2(9)(b)(ii)or (c)(ii) of that Act if it is incurred after the end of the chargeable period (“the net profit period” ) which is the earliest chargeable period ending after a development decision has been made for the field in which–

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