"Generally, if funds are borrowed for general corporate purposes, gains are probably on account of income unless it can be demonstrated that the company was 'grossly' undercapitalized in which case the gains will be on account of capital ... Where the realization of investments is part of the corporation's ordinary business, the resulting gains or losses would normally be on income account."
Topics and taglines
Tagline
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
322868
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
346155
Extra import data
{
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"field_roundtable_subquestion": "",
"field_stub": false,
"field_legacy_header": "30 October 2008 T.I. 2008-029708117 [ general corporate borrowing on income account]"
}
"field_editor_tags": [],
"field_roundtable_subquestion": "",
"field_stub": false,
"field_legacy_header": "30 October 2008 T.I. 2008-029708117 [ general corporate borrowing on income account]"
}