28 March 1991 Income Tax Severed Letter

By services, 22 July, 2022
Language
English
Document number
Severed letter type
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
657872
Extra import data
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"menu:://Federal Income Tax [CCH Tax ]/Tax Window Files/Tax Window Files/Tax Window Files/1990s/1991 [MA91_339 - 903198]/MR91_035 — Limitation Re Deduction of Interest by Certain Corporations"
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"field_proprietary_citation": [],
"field_release_date_new": "1991-03-28 07:00:00",
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Main text

March 28, 1991

W. M. Lynn                              Head Office
Section Chief                           Rulings Directorate
Appeals and Referrals Division          L.A. McCarron-McGuire
Appeals Branch                          (613) 957-2092
Head Office

Attention: M.S. Lalonde

                                        8-910339
          24(1)Application of subsection 18(4)
We are writing in response to your memorandum, dated February 4,
1991, in which you requested our views on whether the Notices of
Objection filed by       24(1)            (the "taxpayer") for
1986, 1987 and 1988 should be allowed.

It is our view that the words in subsection 18(4) and subparagraph 18(5)(a)(ii) are clear and unambiguous.

                              24(1)

Further, we agree with the position expressed by Business Files Audit and supported by the International Audits Section of the Hamilton District Office that Article XXII of the Canada - U.K. Income Tax Convention (1978) does not provide relief to the taxpayer in these circumstances.

As indicated in a letter, dated November 9, 1990, from the Department of Finance ("Finance") to the taxpayer's representative (a copy of which letter you forwarded to us on March 14, 1991),

                    24(1)     21(1)(b)

Director Reorganizations and Non-resident Division Rulings Directorate Legislative and Intergovernmental Affairs Branch

000035