Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsNon recurrent expenditure may be spread over five years of assessment
| 14. Where an assessee incurs any non-recurrent expenditure other than any expenditure which is for a purpose specified in subsection (1) of section 12 and which is above such maximum expenditure for that purpose as is deemed under that subsection to be not his expenditure, then, if he so desires, the amount of that expenditure shall, for the purpose of the ascertainment of his assessable expenditure, be spread over a period not exceeding five years of assessment:Provided that the preceding provisions of this section shall not apply to any item of non-recurrent expenditure of less than one thousand rupees. |