Fees paid by a trust to two individual trustees (a solicitor and the vice-chairman of one of the principal American banks) were not deductible by the trust under s. 11(13) of the pre-1972 Act because their principal business was not advising others as to the advisability of purchasing or selling specific securities.
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Drupal 7 entity type
Node
Drupal 7 entity ID
335973
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"field_legacy_header": "<strong><em>No. 579 v. MNR</em></strong>, 58 DTC 734, 21 Tax ABC 21",
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