Part 9 of the Principal Act is amended -

(a) in section 278(2), by the deletion of "and, where it is so made, section 304(4) shall not apply",

(b) in section 300 -

(i) in subsection (1), by the substitution of "section 284(6) or 298" for "section 298", and

(ii) by the insertion of the following subsection after subsection (3) -

"(4) Any wear and tear allowance made to any person under or by virtue of section 284(6) shall be made in charging that person's income under Case V of Schedule D.",

(c) in section 304 -

(i) in subsection (1) by the deletion of "as it applies",

(ii) in subsection (4) -

(I) by the deletion of "Subject to section 278(2),",

(II) by the insertion of ", or in charging profits or gains of any description, as the case may be," after "in taxing a trade", and

(III) by the insertion of "or in charging the profits or gains, as the case may be," after "in taxing the trade",

and