Section 878 | Exclusion of credits or debits brought into account under other provisions

(1)A credit or debit is not required to be brought into account under this Chapter so far as a credit or debit representing the accounting difference in question is brought into account for tax purposes under a provision specified in subsection (2).

(2)Those provisions are—

(a)section 723 (revaluation),

(b)section 725 (reversal of previous accounting loss), or

(c)section 732 (reversal of previous accounting gain).