Commentary on Sections Overview Chapter 3: Amounts treated as expenses of management Section 1232: Chapter applies to amounts not otherwise relieved
3122.This section is a priority rule. It is based on section 75 of ICTA.
3123.If an expense falls within the general rule for management expenses in section 1219(1) that section takes priority over the rules in this Chapter. And if an expense is otherwise deductible for tax purposes the rules in this Chapter do not apply to it.