821. Exclusion of expenditure deductible for income tax.

Any expenditure allowable as a deduction in computing the profits or losses of a trade1, profession or vocation for the purposes of income tax2, or allowable3 as a deduction in computing any other income or profits or gains or losses for the purpose of the Income Tax Acts4, is excluded from the expenditure allowable5 as a deduction in the computation of the gain on the disposal of an asset