CIT Financial Ltd. v. The Queen, 2003 DTC 1138, 2003 TCC 544 -- summary under Subsection 245(2)

By services, 28 November, 2015

Bowman A.C.J. noted that GAAR should not be applied if other sections of the Act are effective to eliminate the beneficial tax results sought by the taxpayer. In this instance, given that section 69 reduced the capital cost of software required by the taxpayer, there was no room left for the application of GAAR.

Topics and taglines
Topic
Income Tax Act - s. 245(2)
Tagline
specific provisons applied before GAAR
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
336968
Extra import data
{
"field_legacy_header": "<strong><em>CIT Financial Ltd. v. The Queen</em></strong>, 2003 DTC 1138, 2003 TCC 544",
"field_override_history": false,
"field_sid": "",
"field_topic_category": "seealso"
}