The taxpayer, which carried on various real estate related businesses, was found to conduct an operation of collecting mortgage payments as agent for several mortgagees as a separate business., so that an amount which it received for the cancellation of a major agency contract was found to be a capital receipt given that the effect of the cancellation of that contract was to terminate its mortgage agency business.
Topics and taglines
Tagline
mortgage agency business was separate from other real estate businesses
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
973546
Extra import data
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Workflow properties
Workflow state