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3(1)There shall also be taken into account for tax purposes as an item of a revenue nature any amount in respect of the revaluation of a right to which this Schedule applies that, in accordance with normal accounting practice, falls to be taken into account for accounting purposes.
(2)This paragraph applies whether or not the item—
(a)may be so taken into account in determining profit or loss, or
(b)is so taken into account in any relevant statutory accounts of the taxpayer.
(3)An item taken into account for tax purposes under this paragraph shall be so taken into account as a credit or debit for the period of account in which it is recognised for accounting purposes in accordance with normal accounting practice.
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