s 25 Loss incurred in tax relief period
(1) The amount of any loss incurred in any accounting period of the pioneer business of a pioneer company shall be computed in like manner as any income falling to be computed under subsection 21(1), 21B(2), 21C(2), 21D(2), 21E(2) or 21 F(2). (2) Where— (a) the amount of any loss of a pioneer company has been computed for an accounting period; and (b) in accordance with subsection 21(1), 21B (2) , 21C(2), 21D(2), 21E(2) or 21F (2) the accounting period has been treated for the purposes of the computation as the basis period for a year of assessment, the amount of the loss shall be deducted in the manner provided by subsections 43(2) and 44(1) of the principal Act from any statutory income from the pioneer business or the aggregate of the statutory income from the pioneer businesses, of the company after any restriction under section 21A , for that year of assessment. (3) Where by reason of an insufficiency or absence of statutory income from the pioneer business of a pioneer company other than a contract research and development company for a year of assessment effect cannot be given or cannot be given in full to any deduction falling to be made for that year pursuant to subsection (2), that deduction which has not been so made (or so much thereof as has not been so made) for that year shall not be made in computing the total income of the company for the year of assessment in the basis period in which the day of commencement of the postpioneer business falls or any subsequent year of assessment. (4) Where by reason of an insufficiency or absence of statutory income from the pioneer business of a contract research and development company for a year of assessment, effect cannot be given or cannot be given in full to any deduction falling to be made for that year pursuant to subsection (2), that deduction which has not been so made (or so much thereof as has not been so made) for that year shall be made in computing the total income of the company for the year of assessment in the basis period in which the day of commencement of the post-pioneer business falls or any subsequent year of assessment. Chapter 2—Investment Tax Allowance