61
all material times contimed to be an industrial building
or structure; and
(ii) ends with the fiftieth year of assessment
after that in which the building or structure was so used;
and so on for any subsequent rates.
(c) Notwithstanding anything in the preceding
provisions of this section in no case shall the amount of
an annual allowance made to a person for any year of assessment
in respect of any expenditure exceed what, apart from the
writing off falling to be made by reason of the making of that
allowance, would be the residue of that expenditure at th
end of his basis period for that year of assessment.
36.
(1) there any capital expenditure has been incurred
on the construction of a building or structure and, in, or
after the basis period for the year of assessment 1947/48 any
of the following events occurs while the building or structure
is en industrial building or structure, that is to say
(a) the relevant interest in the building or
structure is sald; or
(b) that interest, being a leasehold interest,
comes to an end otherwise than on the person entitled thereto
acquiring the interest which is reversionary thereon; or
(a) the building or structure is demolished or
destroyed or, without being demolished or destroyed, osases
al tage ther
used,
an allowance or charge, to be know
"balancing allowance"
or a "balancing charge" shall, in the circumstances mentioned
in this section, be made to or, as the case may be, on the
person entitled to the relevant interest immediately before
that event occurs for the year of assessment in his basis
period for which that event occurs.
Provided that no balancing allowance or balancing
charge shall be made to or on any person for any year of
assessment by reason of any event occurring after the end of
his basis period for the fiftieth year of assessment after
it in which the building or structure was first used.
/(2)