(a) In this section -
'chargeable period' means an accounting period of a company or a year of assessment, and a reference to a chargeable period or its basis period is a reference to the chargeable period if it is an accounting period and to the basis period for it if it is a year of assessment;
'basis period' means the period on the profits or gains of which income tax is to be finally computed under Schedule D or, where by virtue of the Income Tax Acts the profits or gains of any other period are to be taken to be the profits or gains of that period, that other period.
(b) For the purposes of this section, in relation to interest which is to be taken into account in computing income chargeable to tax under Case I of Schedule D -
(i) where 2 basis periods overlap, the period common to both shall be deemed to fall in the first basis period only,
(ii) where there is an interval between the end of the basis period for one year of assessment and the basis period for the next year of
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