Section CB 23 — Income Tax Act 2007: Investment exclusion from sections CB 12 and CB 13

CB 23 Investment exclusion from sections CB 12 and CB 13 Sections CB 12 and CB 13 do does not apply if— (a) the work involved in the undertaking or scheme is to create or effect a development, division, or improvement; and (b) the development, division, or improvement is for use in, and for the purposes of, the person’s deriving from the land income of the kind described in section CC 1 (Land). Defined in this Act: income , land Compare: 2004 No 35 s CB 21 Section CB 23: amended, on 1 April 2008, by section 312(2) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section CB 23 heading: amended, on 1 April 2008, by section 312(1) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).