Interpretation

In these Rules“capital expenditure” means all expenses, wholly and exclusively incurred on an enterprise, in respect of which no provision for deduction or allowance, in whole or in part, is elsewhere made in or under the Income Tax Act; “enterprise” means an industry or undertaking which, in the opinion of the Minister, is one specified in the Schedule to these Rules (hereinafter called the Schedule) and, except for the purposes of rule 10 of these Rules, is established after the 31st day of December, 1946; “period of operation of an enterprise” means in the case of an enterprise specified in– (a) Part I of the Schedule, fifteen years; (b) Parts II and III of the Schedule, ten years; reckoned from and including the first year in which capital expenditure is incurred on such enterprise.