Where the distributing corporation or a look-through corporation has limited partnership interests, the consolidated look-through approach will be used only in cases where such holder on a consolidated basis can exercise significant influence over the affairs of the partnership. (para. 43(a)).
Since space that was subleased was generally either previously occupied or potentially needed for future expansion, the entire leasehold interest will be classified as business property (para. 43(n)(ii)).
Certain "look-through" entities ... have in the past acquired land for future expansion of the business operations. In some circumstances, the expansion plans have been abandoned and such vacant lands are currently held for resale pending of the locating of an acceptable purchaser. Since in all the circumstances, the vacant land was initially acquired for future expansion and either continues to be held for such expansion or for resale, these interests in vacant lands will be classified as "business property" (para. (n)(v)).