In finding that recapture of depreciation should not be reduced to reflect that the fair market value of debentures received in consideration for the depreciable property was lower than their principal amount, Pigeon J. noted that s. 20(5)(c) of the pre-1972 Act deemed proceeds of disposition of the property to include the sale price, which was equal to the principal amount of the debentures.
Topics and taglines
Tagline
proceeds of disposition based on face amount rather than FMV of debentures received therefor
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
974490
Extra import data
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Workflow properties
Workflow state