No. 21. Income Tax. 1967.


 before which it is anticipated that the factory to
 which the application relates will commence to
 produce in marketable quantities the pioneer pro-
 duct or products intended to be manufactured
 therein, or, in any case where such factory has
 commenced to produce the pioneer product or
 products in marketable quantities before the date
 of such application, such day as may be specified
 as the production day by the Administrator in
 Council in the order made under section 4 of the
 Aid to Pioneer Industries Ordinance, 1952. No. 5 of 1s52.

 PART IV.

 COMPUTATION OF CHARGEABLE INCOME.
 8. For the purpose of computing the chargeable income Deductions
of any person there shall be deducted all outgoings and ex- allowed.
penses wholly and exclusively incurred during the basic year
by such person in the production of the income, including:-
 (a) sums paid by such person by way of interest upon
 money borrowed by him, where the Comptroller is
 satisfied that the interest was paid on capital em-
 ployed in acquiring the income;
 (b) rent paid by any tenant of land or buildings occu-
 pied by him for the purpose of acquiring the income;
 (c) any sum expended for repair of premises (including
 premises used exclusively for the purpose of private
 residence), plant or machinery employed in acquir-
 ing the income, or for the renewal, repair or altera-
 tion of any implement, utensil or article so em-
 ployed;
 (d) bad debts incurred in any trade, business, profession
 or vocation, proved to the satisfaction of the Comp-
 troller to have become bad during the basic year,
 and doubtful debts to the extent that they are respec-
 tively estimated to the satisfaction of the Comptroller
 to have become bad during the said year notwith-
 standing that such bad or doubtful debts were due
 and payable prior to the commencement of the said
 year:
 Provided that all sums recovered during the said
 year on account of amounts previously written off
 or allowed in respect of bad or doubtful debts shall