(1) For the purposes of corporation tax, income tax law as applied by section 76 shall apply subject to subsections (2) to (7).
(a) Where a company begins or ceases to carry on a trade, or to be within the charge to corporation tax in respect of a trade, the company's income shall be computed as if that were the commencement or, as the case may be, discontinuance of the trade, whether or not the trade is in fact commenced or discontinued.
(b) Notwithstanding paragraph (a), where any provision of the Income Tax Acts is applied for corporation tax by the Corporation Tax Acts, this subsection shall not apply for any purpose of that provision if under any enactment a trade is not to be treated as permanently discontinued for the corresponding income tax purpose.
(3) In computing income from a trade, section 76(5)(b) shall not prevent the deduction of yearly interest.
(3A) In respect of a company that carries on a leasing activity in respect of which the company is within the charge to
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